doom-and-gloom from a website centered on real estate (investment) and as Canada closes loopholes on foreign investment in real estate... timing is suspicious. Lack of similar coverage elsewhere doubly so.
this post was submitted on 19 Apr 2024
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Yeah, this is the second shady, light-on-facts article I've seen from that website recently.
From the title I assumed it was a positive story, given driving foreign real state investment out of Canada so regular people can actually buy has been an explicit goal for some time now.
It is all propaganda, but there is an oz of truth here. The reality is though, Canadaβs value is at an all time high so much so that many who live there cannot even afford it and are in an unsustainable situation.
Investing in Canada right now is like buying into a stock at its highest price ever. Risky as there is little room left to go higher and lots of opportunities for it to go lower. Canada is overvalued IMO and I say that as a Canadian who had to move out of the country in order to be able to continue to work on my indie development project. Canada is just too expensive. It is suffocating.
Out of curiosity, would you mind sharing in what region you ended up moving to?
My wife who I met in Canada is Vietnamese and due to Covid did not visit for years. Post Covid we came here for an extended visit and the cost of living is so much lower and quality of the food at the market so great that we ended up staying a little longer. Not a forever place, but it has allowed us to save and for me to continue to develop my app which would have been impossible in Canada. Canada has not only gotten more expensive, but also the salaries seem to have gone down to boot in places like Vancouver which I just do not get. How is anyone there affording it all? It is like everything has a real estate tax. By that I means everything is more expensive as the store, restaurant, service you use, has to pay their landlords and thus that jacks up the price of everything. The cost of things is out of touch with reality and even worse, it is funneling money to the already wealthy. Seems like a recipe for disaster as surely it is unsustainable. Will come back once it all crashes and things get back to livable. Vietnam is not a place to come to though as they are not foreigner friendly in terms of visas and such unless you are in a situation like I am with a wonderful Vietnamese wife and now family who is have come to love. Do miss the clean air in Canada though.
So does something like this affect the value of the dollar at all? Not familiar with the cause and effect here!
Does anything affect stocks and the dollar? Yes; all of it. Predictably? No.