As much as 20% of all homes in Canada are vacant, bought as an investment by speculators, most of whom have never set foot in the country. It's a huge part of the reason the cost of housing has become pretty much unaffordable for most people who already live here, immigrants and old stock both. Something needs to be done about real estate speculation, although just tacking on another tax isn't going to achieve much of anything.
The housing price increases are due to the same thing across all these pozzed Western countries - letting infinite immigrants in and letting wealthy foreigners park their money in real estate.
As much as 20% of all homes in Canada are vacant, bought as an investment by speculators, most of whom have never set foot in the country. It's a huge part of the reason the cost of housing has become pretty much unaffordable for most people who already live here, immigrants and old stock both. Something needs to be done about real estate speculation, although just tacking on another tax isn't going to achieve much of anything.
The housing price increases are due to the same thing across all these pozzed Western countries - letting infinite immigrants in and letting wealthy foreigners park their money in real estate.
I'm always amazed at the ethnic demographic makeup of both shoppers and staff at the local Wal-Mart and how much it has changed.
I live nowhere of note, but the aisles and parking lot of big box stores suddenly have the same racial breakdown of a Toronto subway car.
While mine is filled with joggers and coal burners