Do you want to kick out foreign real estate Buyers in Canada? Before you make up your mind, check out this article by Martin Armstrong on the Australian decision to kick out foreign owners . . . LINK to Article
Martin’s conclusion is that money is fleeing and will flee from places that want to restrict foreign investment. He is a bit inflammatory about the political left. I am not sure I am quite there, but his fiscal understanding is right on. Australia and Britain are and will struggle because they are shunning foreign investment. The USA and places like BC in Canada are doing well comparatively speaking because of foreign investment.
I hope each of us will think this through carefully. If there are no or fewer high end Foreign Real Estate Buyers in Canada, then there will be fewer people to buy the next level down and so on and so on. Really think this through. Certainly we are able to create lower cost housing in real estate zones in our area.