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meestermj 01/01/23 9:45:01 PM #1: |
https://www.cnn.com/2023/01/01/business/canada-bans-home-purchases-foreigners/index.html A new Canadian law took effect January 1 that essentially bans foreign buyers from buying residential properties as investments for two years. The law was passed because of a spike in Canadian home prices since the start of the pandemic and some politicians beliefs that foreign buyers were responsible by snapping up supply of homes as investments. The law provides exceptions for home purchases by immigrants and permanent residents of Canada who are not citizens. Can only be a good thing. Real estate costs have been a massive issue in the last few years, and they're projecting a 30% or more price drop over that two year period. --- Psn: beastlytoast Left-handed fire-slapsies leave me feeling confused about life. - Merydia ... Copied to Clipboard!
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Alucard188 01/01/23 9:45:58 PM #2: |
Good. You know how America had that taxation without representation thing with Great Britain? Should be like that, but for homes. Homes for homeowners, not capital investment firms. Things started becoming really bad when homes became a speculative bubble. --- Face it Cloud is a gaming icon and has appered in lots of games while mario has only appeared in 2 games sunshine and 64~xSlashbomBx ... Copied to Clipboard!
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meestermj 01/01/23 9:47:48 PM #3: |
Alucard188 posted... Good. You know how America had that taxation without representation thing with Great Britain? Should be like that, but for homes. Homes for homeowners, not capital investment firms. Things started becoming really bad when homes became a speculative bubble.Yep! British Columbia implemented restrictions a long while ago, and it's been helping. I remember seeing a video of a guy in Ontario that owns 265 properties. Absolutely ridiculous. --- Psn: beastlytoast Left-handed fire-slapsies leave me feeling confused about life. - Merydia ... Copied to Clipboard!
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PiOverlord 01/01/23 9:53:24 PM #5: |
It's something that needs to happen here. Foreign countries should not be owning American land, makes no sense we'd let that happen. --- Number of legendary 500 post topics: 34, 500th posts: 34; PiO ATTN: 6 RotM wins 1, LETTEN MY ARROW FLYEN TRUE ... Copied to Clipboard!
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pauIie 01/01/23 10:01:16 PM #6: |
I am in favor of doing something about buying homes as investments --- http://i.imgur.com/O5APL.jpg http://www.last.fm/user/jaeganja ... Copied to Clipboard!
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MelbuFrahma4 01/01/23 10:02:41 PM #7: |
PiOverlord posted... It's something that needs to happen here. Foreign countries should not be owning American land, makes no sense we'd let that happen. That was a Ron DeSantis/GOP talking point a couple months ago. The opposing side said they were exaggerating how much land China owned in US. And I dont think it has been brought up in America since then. --- "We'll never see Day-Lewis and Kubrick, or Kurosawa and Eastwood, but we have seen Bale and Nolan, a cinematic dream pairing come to life!" ... Copied to Clipboard!
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Jagr_68 01/01/23 10:03:25 PM #8: |
Jokes on Canada, I can't afford a home! Suck it! --- New York Rangers [2004-2008] https://media.giphy.com/media/WvQHBYW0q4TuxdAg61/giphy.gif https://psnprofiles.com/Jaromiroquai68 ... Copied to Clipboard!
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SomeLikeItHoth 01/01/23 10:04:13 PM #9: |
I wish California would do this. --- FAM FOREVER. | https://imgur.com/cGrHeeU.jpg ... Copied to Clipboard!
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meestermj 01/01/23 10:04:20 PM #10: |
Jagr_68 posted... Jokes on Canada, I can't afford a home!Same, but I should by end of 2023. Ideally before that, as they're also expanding incentives for first time home buyers. Just need another 7k and I'm good. --- Psn: beastlytoast Left-handed fire-slapsies leave me feeling confused about life. - Merydia ... Copied to Clipboard!
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CARRRNE_ASADA 01/01/23 10:05:54 PM #11: |
Maybe a happy medium could be reached with houses under 10 mill or so not being able to be bought by non residents. Also add big scale buying of houses by banks or other institutions. Housing is the biggest expense we all face and the biggest driver of the inflation. This would make a major correction and more realistic appraisal for houses. --- SEXY SEXY! ... Copied to Clipboard!
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ellis123 01/01/23 10:06:31 PM #12: |
MelbuFrahma4 posted... That was a Ron DeSantis/GOP talking point a couple months ago. The opposing side said they were exaggerating how much land China owned in US. And I dont think it has been brought up in America since then.The problem is that he probably heard about it and started to start his chant because it was something that he could drive as a "Theyr takin er jurbs!" but then he found out that Texas is pretty much leading the nation in terms of just selling off its infrastructure to foreign investors and was forced to drop it. --- "A shouted order to do something of dubious morality with an unpredictable outcome? Thweeet!" My FC is in my profile. ... Copied to Clipboard!
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gunplagirl 01/01/23 10:16:19 PM #13: |
Honestly the entire premise of landlords needs to be abolished. No owning a home or other property if you don't live or work full time there. --- tfw no big tiddy goth vampire gf who lactates blood - viewmaster_pi ... Copied to Clipboard!
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meestermj 01/01/23 10:18:22 PM #14: |
gunplagirl posted... Honestly the entire premise of landlords needs to be abolished. No owning a home or other property if you don't live or work full time there.In British Columbia you're allowed to own two properties. A primary residence, and a "vacation" home. Neither of which you're allowed to rent out. --- Psn: beastlytoast Left-handed fire-slapsies leave me feeling confused about life. - Merydia ... Copied to Clipboard!
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FLAMING_EVIL_HOMER 01/01/23 10:20:18 PM #15: |
meestermj posted... In British Columbia you're allowed to own two properties. Must be nice --- I wash myself with a rag on stiiick ... Copied to Clipboard!
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Turtlemayor333 01/01/23 10:21:24 PM #16: |
MelbuFrahma4 posted... That was a Ron DeSantis/GOP talking point a couple months ago. The opposing side said they were exaggerating how much land China owned in US. And I dont think it has been brought up in America since then.Russians probably own more real estate in Florida than Americans do. --- http://i.imgur.com/WWk7D.jpg http://i.imgur.com/hE7v5GL.jpg http://i.imgur.com/sY9YLKe.jpg http://i.imgur.com/9e67vqt.jpg ... Copied to Clipboard!
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meestermj 01/01/23 10:22:45 PM #17: |
FLAMING_EVIL_HOMER posted... Must be niceI wouldn't know. I live in maple Texas, aka Alberta. Hopefully this goes a long way to improve things. --- Psn: beastlytoast Left-handed fire-slapsies leave me feeling confused about life. - Merydia ... Copied to Clipboard!
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gunplagirl 01/01/23 10:23:58 PM #18: |
meestermj posted... In British Columbia you're allowed to own two properties.That's so much better than what we have here. -_- --- tfw no big tiddy goth vampire gf who lactates blood - viewmaster_pi ... Copied to Clipboard!
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SaccharineSmile 01/01/23 10:24:06 PM #19: |
Good dunno why people are saying this is racist though --- Sent from my IPhone X ... Copied to Clipboard!
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gunplagirl 01/01/23 10:31:11 PM #20: |
SaccharineSmile posted... Good"It unfairly targets white people" is what they mean when they say that, obviously. --- tfw no big tiddy goth vampire gf who lactates blood - viewmaster_pi ... Copied to Clipboard!
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MrMallard 01/01/23 10:31:50 PM #22: |
meestermj posted... A new Canadian law took effect January 1 that essentially bans foreign buyers from buying residential properties as investments for two yearsAbsolutely on board with this. Australia has a property development crisis, where these slimeballs are buying up massive swaths of land, knocking down houses and putting up shoebox apartments with substandard materials. Last decade, a bunch of these apartment complexes had cracked foundations and had to be evacuated. With the global shift towards the right-wing in 2016 and the ensuing cuts to industry regulations, coupled with the rise of organised crime and cronyism seeping into parliament, it has left the property market in this awful state where rich leeches drive up prices and make millions more dollars every year. And that's just Australia. With that being said? The issue isn't wholly foreign investors. Plenty of true blue Aussie investors are doing the same thing, to the point of trying to infiltrate local politics to sign off on controversial building leases that will enrich them and leave communities worse off. There have been property developers who've argued successfully in court to have the term "property developer" dismissed in legal cases, because the term "property developer" has negative connotations that is tantamount to defamation. If Canada is anything like over here - and for all I know, it might not be so bad - the property market is a rort whether your buyer is from Saskatchewan, Bulgaria or China. Though with that being said, this helps to stem the flow of crooks turning housing into a commodity rather than a human right. And while I've emphasised that this is an issue locally, it can be argued that foreign investment companies are a huge part of the problem. Cutting back to Australia again, we have a big issue with Chinese investors buying up all our shit. Even a temporary ban like this is great - be vigilant for loopholes and for your various home-grown crooks to seize the opportunity to fuck you in the ass, but I feel like this is a great idea if nothing else. --- Rest your head - you've got two pillows to choose from in a queen-sized bed Now Playing: Paladins, Minecraft, Danganronpa ... Copied to Clipboard!
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CanuckCowboy 01/01/23 10:35:16 PM #24: |
[LFAQs-redacted-quote] It was definitely this. How would that even target primarily white people anyways? At least as far as the west coast goes it primarily targets Chinese buyers. --- "I have a cat he's burly n buff but he just likes goin' for walks n stuff" https://files.catbox.moe/gqwlkg.jpeg ~ by JimCarrysToe. Be amaze. ... Copied to Clipboard!
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CARRRNE_ASADA 01/02/23 7:25:24 PM #25: |
gunplagirl posted... Honestly the entire premise of landlords needs to be abolished. No owning a home or other property if you don't live or work full time there. Must be nice to live in a place that actually cares about its citizens --- SEXY SEXY! ... Copied to Clipboard!
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Kamen_Rider_Blade 01/02/23 7:30:16 PM #26: |
This kind of law should be global. You should be required to be a resident to buy ANY residential property along with limit 1 residential property per Adult. --- Are you a MexiCAN or a MexiCAN'T - Johnny Depp 'Once Upon A Time in Mexico' ... Copied to Clipboard!
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desert_santa 01/02/23 7:38:03 PM #27: |
Looks like Canada is more advanced than the rest of us. Would never happen in my country though. Lots of foreign money is more appealing than cutting domestic citizens a break so they can afford their own home. --- Life may be like a video game, but how do I get more continues? ... Copied to Clipboard!
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TakashiMifune85 01/02/23 7:38:24 PM #28: |
Two decades or so too late. The price of housing in Vancouver is absolutely ridiculous. --- "Massive, massive quantities. And a glass of water, sweetheart, my socks are on fire!" -- Gordon Cole ... Copied to Clipboard!
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Bleuets 01/02/23 7:44:48 PM #29: |
SomeLikeItHoth posted... I wish California would do this. This but replace California with Colorado. ... Copied to Clipboard!
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Lil_Bit83 01/02/23 7:46:48 PM #30: |
I'm not Canadian, but it seems like a good idea. --- 2DS FC tempest 1478 9807 1205 ... Copied to Clipboard!
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eggcorn 01/02/23 7:51:45 PM #33: |
SomeLikeItHoth posted... I wish California would do this.This but replace California with America. --- Warning: This post may contain triggering or distressing content. ... Copied to Clipboard!
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Kamen_Rider_Blade 01/02/23 7:54:49 PM #34: |
eggcorn posted... This but replace California with America.This but replace America, with the entire World. 1x Residential Property per Adult person --- Are you a MexiCAN or a MexiCAN'T - Johnny Depp 'Once Upon A Time in Mexico' ... Copied to Clipboard!
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Agent_Stroud 01/02/23 7:57:28 PM #35: |
Turtlemayor333 posted... Russians probably own more real estate in Florida than Americans do. *Hotline Miami intensifies* --- "Palpy didn't get laid, the only people he seduced were Maul, Dooku and Anakin." -- WingZero0782, in response to an impromptu Star Wars lore discussion ... Copied to Clipboard!
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Anteaterking 01/02/23 7:57:31 PM #36: |
gunplagirl posted... Honestly the entire premise of landlords needs to be abolished. No owning a home or other property if you don't live or work full time there. I think there's still room for "corporate housing" to a certain degree, but I generally agree that most landlord situations don't fall under that. --- http://i18.photobucket.com/albums/b136/Anteaterking/scan00021.jpg http://i18.photobucket.com/albums/b136/Anteaterking/scan00021.jpg ... Copied to Clipboard!
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Robot2600 01/02/23 8:26:37 PM #37: |
housing is fucking infrastructure, not an investment --- --- ... Copied to Clipboard!
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MileyVirus0 01/02/23 8:30:55 PM #38: |
Good. We should do the same in the US. ... Copied to Clipboard!
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emblem-man 01/05/23 9:24:51 AM #39: |
I hope they're also doing things regarding zoning to make it easier to build more homes. --- http://avatar.xboxlive.com/avatar/emblem%20boy/avatar-body.png haters gonna hate ... Copied to Clipboard!
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J03can 01/05/23 9:41:54 AM #40: |
There's huge beautiful home down the street from me that sits totally vacant. Someone should tip off some squatters --- Jerry, it's Frank Costanza!!! Mr Steinbrenner's here George is dead - call me back!!!! ... Copied to Clipboard!
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Cobra1010 01/05/23 9:44:29 AM #41: |
This needs to happen here in the UK. --- Load me into the matrix and dont pull the plug ... Copied to Clipboard!
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