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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]This is not about immigration it is about foreign investment taking away wealth opportunities from citizens. And the worst part is that since the US didnt manage this prior any regulations on it will cause prices to drop with an influx of housing and properties (in theory) causing those who bought at the top of the market to possibly have a larger mortgage compared to any potential sale price. We are so busy dealing with manufactured crises that we can't deal with real issues. [/quote] This. But it’s bigger than foreign nationals. The real issue is real estate has become a lucrative investment for individuals and corporations, and the end result is housing stock being controlled by people seeking to make money. It’s a crisis. But nobody is addressing it. Instead the policy wonks and advocates and legislators will focus on bandaid approaches like tax incentives, housing trust funds, mixed use development, etc. [/quote]
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