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Showing results for tags 'canada'.
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Chatting to a close friend who writes for a well known financial website which is regularly posted here. Lots of jostling for position in their office at the moment for lead correspondent on overseas property - all their contacts in the financial / property industry are getting quite nervous of the bubbles bursting. Not much better than 'a bloke down the pub said' hence why it's here in anecdotals but was much encouraged by the indications that the pros are coming to the same conclusions as the armchair pundits.
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Want to keep your million-dollar luxury pad in Vancouver empty? Get ready to pay C$10,000 ($7,450) annually in extra taxes. Lie about it? That’ll be C$10,000 a day in fines. Canada’s most-expensive property market, suffering from a near-zero supply of rental homes, announced the details of a new tax aimed at prodding absentee landlords into making their properties available for lease. The empty-home tax will take effect by Jan. 1 and will be calculated at 1 percent of the property’s assessed value, Vancouver Mayor Gregor Robertson told reporters at City Hall. http://www.bloomberg.com/news/articles/2016-11-09/vancouver-wields-c-10-000-a-day-fine-in-crackdown-on-empty-homes -
I find this video to be very acuarate of what we are seing nowadays. He touches on various subjects but this one is on housing so it applies. https://www.youtube.com/watch?v=BZJDTod_fXs
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http://www.zerohedge.com/news/2016-02-09/jingle-mail-makes-comeback-canada-underwater-borrowers-mail-keys-back-banks This is going to be collosal -
Full article: http://news.nationalpost.com/news/canada/u-s-short-sellers-betting-on-canadian-housing-crash-an-accident-waiting-to-happen
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http://business.financialpost.com/2014/08/08/canada-adds-only-200-jobs-in-july-what-the-analysts-say/ First Commonwealth country to have its crash? It has the biggest bubble (taking into consideration its land area)
