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Originally Posted by dc_denizen
Becoming merely a safe haven for global capital makes you Miami or Dubai, not Silicon Valley or Boston.
It’s not just Canada—International investment amid a concerted effort to attract wealthy immigrants from Asia is driving demand for high end condo towers in Australian and new zealand cities too. Let’s be honest about the fundamental forces at work here.
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Most of what Torinto builds is not for the high end though. Condos in the city have always been for the low end and middle class. Condos are the only affordable part of the Toronto market. Wealthy people buy houses Middle class buys condos and the poor rent