Quote:
Originally Posted by osmo
The top market in Toronto is dominated by foreigners also. The truth is Canadian's don't have much of that top 1% wealth, and foreigners do, so they pick up the slack. Wealthy Chinese buying up $50 million dollar pads does not correlate to the domestic market.
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Quote:
Originally Posted by Innsertnamehere
Canada's Wealthy tend to live more modestly, I.E. Rosedale, or an $8 million place in the Bridle Path.
The Rogers, Irvings, and Thompsons don't exactly live in mega mansions, but they aren't living in modest homes either.
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No one going to focus on the fact that the person who designed and was selling this home was... wait for it... Canadian?
But no, Canadians are modest people priced out of their own country by evil foreigners.
While foreign money is no doubt putting upward pressure on markets, make no mistake, there is plenty of Canadian money in the ultra high end market, and pointing the finger solely at external investment is simply reactionary. Only difference is when a white Canadian buys a house like this no one makes a huge deal out of it.
Quote:
Originally Posted by kwoldtimer
As would be this Vancouver property, I suspect, although with less emphasis on "domestic staff". Used as much as a business as it is a home.
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Doubtful, his business has an office downtown so I'd imagine this home is more for entertaining than business. Although these days where to draw the line is often pretty blurry.