Subj : any dibs on % voting?
To   : MIKE POWELL
From : Rob Mccart
Date : Mon Mar 03 2025 01:06:00

RM>> Something that came up on the news today, probably not surprising
  >> the list of countries and income vs housing costs, Canada came in
  >> 2nd last out of dozens of countries. Some like France are actually
  >> more affordable now than they were 10 years ago. They somehow came up
  >> with percentage figures and they said Canada was 38% less affordable
  >> than in 2015. What surprised me a bit was that the USA was not a
  >> huge amount better at 30%, although your rank wasn't given.

MP>I suspect, although I am not certain, that this is because
  >people/banks/companies are/were buying up residential property as if it
  >were a speculative investment and not because they were going to live there.

MP>I may not be explaining that exactly right, but I suspect that is part of
  >the reason that the property market has become less affordable for the
  >average "I want to live in that home" buyer.

It could be. They have stopped a lot of people, mostly ultra rich from
China, from buying houses in Canada and then just holding onto them
to sell later at a profit. The gov't was working on blocking that or
charging high taxes if they didn't at least rent the places out.

In this area what we have run into the past few years was at least
one Russian Oligarch buying up lake front properties and resorts,
lots and lots of them, many for millions of dollars each. He is at
least hiring property managers to keep renting the places out but
it's part of what is driving prices up here.

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 * SLMR Rob  * Forgive your enemies...  They _HATE_ that
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