Feb
27
Foreigners’ Bets on Canada’s Housing Market Start With Its Banks
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Lenders more than doubled external debt since recession
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Nation’s current account probably narrowed on oil rebound
One puzzle around the run-up in Canadian home prices is the extent to which foreign money is the driver. The idea is that rich people from places like China are buying up homes as an investment with no intention of ever living in Canada, pushing up the cost of housing for every one else.
Facing complaints about a lack of data, governments are racing to gather more information about just how much non-Canadian cash is fueling meteoric gains in Vancouver and Toronto real estate…
Foreigners’ Bets on Canada’s Housing Market Start With Its Banks
