Housing Bubble II: The Quest To Build Enough Homes Where People Actually Need Them

[ssiguy]

Students buying housing is just a back door to foreign investors, money launderers, and citizenship buyers. All they have to do is register their kids in a school and the kids not even bother going {as 20% don't} yet they can then buy as many homes as they like. In true Canada fashion, if the students want to stay then they can and get citizenship to bring in their entire extended family.

The problem is that Canada as a whole has now adopted BC's false economy.........just build houses and allow anyone to buy them regardless of where the money came from. Ponzi Scheme 101. Most of our economic growth since the 2008 Financial Crisis has been on highly unproductive home building and flipping and this has intensified under Trudeau. Now a stoppage in this false economic model would plunge the economy into a deep recession as the emperor has no clothes especially in BC where real estate buying and flipping has become a religion.

I've said it before and I'll say it again............real estate is like an addiction. First you want to take it to feel good and then you have to keep taking it to stop from feeling bad.