“We’re a very safe market for foreign investment but we’re not a great market for Canadians looking for choices around housing”

Parliamentary Secretary for Housing @TOAdamVaughan summarizing Canada’s housing market in this @TheAgenda interview 1/ https://www.tvo.org/video/what-should-the-government-do-about-housing
But this is largely a product of their own goals to use foreign capital to finance single family home construction which we know inflates house prices.

“We have a very good system of foreign investment creating a lot of new housing in Canada” 2/
He actually admits that our housing market is “a market that’s driven by speculation” and goes on to say that “it gets very very tricky to curb speculation”

It’s actually not tricky, many other countries have done it. Canada has no interest in curbing speculation… Why? 3/
Because the federal Liberal's entire goal is just to push keep pushing house prices higher to drive our economy.

They would fight to avoid even a 10% decline in house prices (past 4 months appreciation) to “protect the investments Canadians have made in their homes” 4/
I really don’t know what to say when our federal government admits that they have made housing in Canada better for foreign investors than for Canadians.

Who are they serving – clearly not Canadians /
You can follow @JohnPasalis.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: