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Canadian Politicians ran out of new ideas on housing platform!

Election time = Politicians make stupid promises. Conservative Party started this banning foreign nationals for 2 years and bidding war then Liberal just a copy cat. Both parties trying to mislead the young voters, make them think the Foreign National Buyers are the one to blame on our unaffordable housing prices.  Young voters have little knowledge about the housing market history.  They don't share the data on how many foreign national buyers we have had since the pandemic begun.  Well, the stats from Canadian Real Estate Association survey shown the whole Canada had 1.8% international buyers.  Would banning 1.8% foreigners buy in Canada for 2 yrs is going to change the housing affordability? Why 2 years? with Covid, the travel industry predict nothing is going back to normal till 2024. Those foreigners don't even buy in the same category anyway. They all singing the same old tune. Blame the foreigners when they hardly exist and couldn't even defend themselves instead of tackling the core issue - Lack of land and long rezoning process. All 3 parties made promises on building between 500k and 1.4m homes from 3 years to 10 years. Typical politician sweet talk...none of their "talk" will change the market condition unless they completely take out immigration.  With 400,000 new immigrants coming per year, how fast can the developers build.  Simple supply and demand issue!  The major differences between these bureaucrats to me is Conservative is Anti China & pro US, Liberal is "trying" to keep neutral.. Either party win is not going to make any real diff to housing market. Singtao Chinese Newspaper interviewed me to share my humble 2 cents. My message has been published in Hong Kong publication Headline Daily (頭條日報) as well.  Click the link below to read the full article if you read Chinese


業界指政府忽視土地供應 樓價漲與外國人炒賣無關 | 多倫多 | 加拿大中文新聞網 - 加拿大星島日報 Canada Chinese News (singtao.ca)


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