Riverdale Rink Rat
Senior Member
Member Bio
- Joined
- Apr 29, 2008
- Messages
- 2,775
- Reaction score
- 273
- Location
- Back to East York... Alas!
I'd take this option over a housing crash - http://opinion.financialpost.com/2012/04/13/to-tame-torontos-housing-bubble-ban-foreign-buying/
I still fail to understand this argument. If someone wants to use cash or credit from outside the Toronto/Canadian economy and wishes to inject that money into the Toronto economy by buying a good the average Canadian feels is overvalued at some price level, why would we not encourage that injection of capital? As long as it's not a Canadian bank doing the lending (if it's Canadian bank solvency we're worried about), isn't this a 100% benefit to the Toronto economy?
Anyone who thinks the price of condos in Toronto is too high should act on that belief by not buying a condo in Toronto. It's not anyone's God-given right to own one. Renting or living elsewhere are very reasonable alternatives.