Reply to Canada now bans foreigners from buying houses- should we do the same?

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[quote=Anonymous][quote=Anonymous]Suspect the move by the Canadian government will actually have minimal impact.  Anyone seen any stats about the actual number of properties owned by overseas buyers?

Canada's population grew by 1.8 million in the 5 years to 2021. It's probably easier to blame overseas buyers for rising house prices rather than admit that new construction simply hasn't kept up with the influx of immigrants.  Governments are pretty bad at planning for population growth.  Couple that with the impact of Airbnb, lack of suitable space (no building on flood plains please!), regulations, NIMBYism and the difficulty of dislodging aging babyboomers from their big 4 bedroom homes to make way for families.
[/quote]
Ding ding ding.

Expensive housing is a supply issue. Especially in liberal cities where regulations make it unprofitable to build any new housing stock other than expensive single family homes and luxury apartments for well-off young professionals.

Blaming foreigners and AirBnB for lack of supply is nonsensical.  [/quote]

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