The role of foreign owners in Canadian market

The role of foreign owners is hotly debated in Canadian housing markets, how many of those owners own multiple properties?

Connect with BNN Bloomberg:
--
BNN Bloomberg is Canada’s only TV service devoted exclusively to business, finance and the markets.

[John]

"This msg brought to you by our sponsors, the World Economic Form." Lol

[zomgoose]

People who can't afford a home don't care if someone is unable to buy a second property in Florida. A leisure property is not a necessity. People are living in tents because of this insanity.

[canadianvideos]

I know of 2 individuals in our subdivision just north of Toronto that own more than 17 homes each. That’s a measurable percentage of the subdivision owned by two people who both live in other countries. What needs to be defined here is “multiple properties”. Multiple means two or more, more could also mean hundreds! With a rapidly increasing list of billionaires world wide, will we allow a foreign billionaire to invest $1B in Canadian housing inventory? Why should I have to compete with that person when I’m trying to purchase a principal residence for myself? I believe we need to limit how many homes can be owned by one person, or a corporation(s) that is owned by the same individual(s). We don’t want to discourage some level of investment in real estate, but we need to leave some housing inventory available to younger generations and first time Canadian home buyers. The barriers to entry for young Canadians have become far too high. Foreign owners stock piling many homes plays a role in this.

[brasssnacks]

4:05 this is the most detached shit I've ever heard. I can't buy a home here but don't worry I'm still eligible to buy homes abroad? Like, did he hear himself as he said it?

[JJs_playground]

We need to bring more doctors and nurses into Canada.

[BONZITORONTO]

What a complete nonsense. That 3.5 percent foreign buyers sales represent at least 50 percent of the transactions in terms of dollar value.

[John]

That 3.5% is a lie! Corporations can buy properties and shell companies also can buy companies. These corporations do not need to advise there ownership. The number is far far FAR higher than 3.5%!

[tiberiomach]

Everything back to hands of middle/working class and poor 😇 it belongs to us.

[hkhatri]

Problem with housing is not immigration. The problem is that new houses are getting built at a much slower pace. The ones that get built are priced so high that most buyers are only investors.

If there was some restrictions to institutional buyers, it might actually end up helping the rentals in the short term. Even rent locking would help until they're able to figure out what they want to do with this issue.

[mssmith]

so about 200k houses In ontario are empty. how many are investment properties? empty air bnbs can we have a map lmfao just wanna have a look seriously sounds like a huge number of empty houses around here. ⁹

[BONZITORONTO]

The Canadian Real Estate market stinks like a rotten tomato 🍅

[sryijusthavetosaythis]

Interpol is looking for these properties and also yachts owned by Putin and his supporters. They have a lot. In Europe too, however, it is difficult to find and dispossess them. Shell companies and many sub-companies

[stephanienguyen]

Liberal Governments - must look into this analysis numbers.

[Stop_Loss]

Oh no boomers can’t buy their 4th home in Florida.

But come on into Canada and buy up all the stock… so long as we can buy more homes in gods waiting room .

[John]

Speculating if they are rentals is exactly that.. Then suggesting that we need to be careful because other countries will reciprocate making it difficult for us to buy foreighn homes 🤦‍♂️ lmao.. We can't even buy our own homes.. Who are we worrying for???

[stevepedersenhoike]

Good point on this topic.< happy to watch other channel discussion on stock, crypto and other asset. New Investors are scared to start-up and the old investors are financially strained. my calculated opinion is that, it is a good time to buy more of your high conviction stocks or crypto regardless of the current bear. Wealth is created during bear markets, not bull markets. I was able to flip my portfolio worth of 0.7 BTC to 5.2 btc by implementing Stacy Huth daily trading signals despite the state of the market.BASICALLY COPY TRADING.

[philshyu]

I once met a fellow who didn’t believe in investing in stocks, bonds, mutual funds because he considered them all a scam that is nothing more than numbers on a computer screen. Instead, he poured all of his savings into buying homes and rental apartments because in his words, he preferred to own investments that he can see and touch. I think he would be found in these statistics, but I don’t think he should be penalized for his investment philosophy, even though it’s not something I do. I’m in the camp of owning an RSP containing stocks and bonds.

[nospm]

This guy doesn't know what he is talking about. Even a house sales in Markham 200k above asking price made sellers not want to sell for less and local people started panicking and also offering such ridiculous bids. Of course they could, and did contribute to the bubble. 100%

[ar]

The Canadian citizen never got a vote on this issue, do we want more immigrants. Houses would be much more affordable if we didn't essentially have open borders.

Housing prices is directly tied to immigration and there's some very strong propaganda for why we need to let even more immigrants in. We have a "job shortage" oh do we really? When was the last time your wage was increased? How many job applications do you put out and how many rejection letters? This is all BS, Housing and living condonations will continue to worsen because the powers that be want to flood the market with immigrants.