Look at the percentage of Canadian buyers. Even so who the fvck cares..some has money, its legal, buy. Its called capitalism.
Maybe if more people would save and invest instead if spending their paycheck buying useless crap at Walmart, they too could afford a place to live.[/quote]
*hands flu a Snickers*
As for “who cares”, it’s pretty relevant as to answering part of the question of “Why is demand steady even as prices keep rising?”. 20-30% is far from trivial. Also, Chinese demand is likely to fluctuate a lot more than Canadian demand. Yes, if oil prices skyrocket again the Canadian Dollar may gain ground on the US dollar and tip the scales, but Canadian appetites are a lot more steady and stable than Chinese.[/quote]
I would say a good part of the purchases aren’t strictly investments but insurance to escape possible persecution when/if the government goes after the wealthy. Similar thing happened in Vancouver BC with folks from hong Kong. Only this thing, the scale of the wealthy is bigger.
