@yogthos it’s true that overall foreign ownership is small. However those homes are located where most canadians live, Vancouver, Toronto etc so the effect is amplified. eg. no foreign ownership in say Big River Saskatchewan. I live in BC and there are completely empty tower blocks nearby.
My point is that foreign ownership is a red herring. If we passed a law tomorrow that banned foreign ownership, the prices would remain exactly the same in the hands of domestic landlords because we’ve commodified our housing.
@yogthos it’s true that overall foreign ownership is small. However those homes are located where most canadians live, Vancouver, Toronto etc so the effect is amplified. eg. no foreign ownership in say Big River Saskatchewan. I live in BC and there are completely empty tower blocks nearby.
My point is that foreign ownership is a red herring. If we passed a law tomorrow that banned foreign ownership, the prices would remain exactly the same in the hands of domestic landlords because we’ve commodified our housing.