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Reply to "Canada now bans foreigners from buying houses- should we do the same?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What we need to ban are Air BnBs, short term rentals, home flipping, and corporations from owning homes.[/quote] No to banning airbnb or short term rentals.[/quote] Why? It’s a huge problem in terms of people buying investment properties and driving up rent as well as purchase price. I spoke at a conference in Portugal and the locals told me that entire areas were purchased by foreign investors (primarily Asians as well as Europeans). They sit vacant or are rented as airbnbs. Meanwhile, locals struggle to remain housed.[/quote]
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