Quote:
Originally Posted by dc_denizen
Global interest rates are near - nil , the rich worldwide are flush with cash , and Toronto aspires to be a kind of Dubai of North America , where rich third world elites stash their cash in a safe asset (housing ) supported by a cooperative and compliant government . Sort of like Miami a while back
Housing is a principal industry in Canada , and obeys very different fundamentals there than in most of the rest of the western world
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"Aspires to"
Do you have any evidence that Toronto has created any policies, marketing or other strategies intended to attract wealthy foreigners into the housing market? Or that these policies have resulted in a high proportion of foreign-owned properties? If so what percentage is it?