Re:Canada bans foreign home buyers for two years
by jowsie on Tuesday April 19, 2022 @07:08AM
(#31081617)
From what I've read before, the issue isn't foreigners buying the homes to live in, it's foreigners using it as a way to move cash out of their own country to hedge against devaluation/government blocks. A lot of the houses don't even end up being rented out, they just sit vacant.
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Re:Canada bans foreign home buyers for two years
by sandworm101 on Tuesday April 19, 2022 @07:18AM
(#31081691)
This. Too many canadian homes are sitting empty. Those who dont live in the country are less likely to actually live in the homes they buy. It is a hamfisted approach but at least they are trying something direct to address the vacancy issue, something other than moving money around.