Re:Why Ireland's housing bubble burst
by gonzo41 on Saturday March 30, 2024 @08:43PM
(#39880214)
Poor immigrants now == booming growth over the medium term. Rich immigrants just spend the locals out of their homes. The west is importing the wrong type of migrants.
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In canada's case. This was not the thing at all.
It became a trend in china's rich circles to invest in canadian housing market as way to hide money from ccp and to flex your wealth.
Chinese new money are prone to trends, and at scale it can have terrible results for city like Vancouver - quick google - "Chinese homebuyers accounted for nearly one-third of Vancouver's real estate market during 2015"