how does foreign investment in real estate make Canada more powerful?
- 2 years agoFavorite Answer
Who sold them the real estate?
Likely Canadians who made a bit off the deal.
Basically, this seems to be foreigners "banking" their money in Canada, betting that Canadian real estate will go up in value.
So they're basically paying you real estate taxes to hold on to their money is what they see as a stable investment.
So is this good?
Well, in America, most of our schools are bankrolled by real estate taxes, so any time you get tax money which doesn't come with lots of children attached, the quality of your schools goes up.
So, where does your real estate tax money go?
That is the question which need to be answered here. Are they paying for cops, firemen, a new airport, hospitals, or what exactly?
People complain about gentrification, but increased real estate value means more tax money to keep up cities.
If the two things are linked. Are they in Canada?