CMHC & Statistics Canada Release Report Into Foreign Home Buyers

Some say the true numbers are even higher than reported.

The Canada Mortgage and Housing Corporation (CMHC) and Statistics Canada have released a report into foreign home buyers.

The effort to find these numbers began in 2014 under the Harper government.

The report shows 3.4% of housing in Toronto is owned by people who don’t reside in Canada.

In Vancouver, the number is 4.3%.

In many other cities, the number was reported as below 1%.

3.4% and 4.3% are actually quite large numbers, when you consider how big an impact a small change in percentage can have when it comes to the pressure on housing prices.

Additionally, the government has an incentive to under-count the numbers, because of the growing backlash to foreign speculators in the Canadian housing market, so there is reason to be skeptical of how accurate the report is.

It’s a serious problem that we have neighbourhoods in Canadian cities where a large number of homes are owned by people who don’t even step foot in Canada, leaving those homes empty and driving up the cost of housing for everybody else.

This system is tailor-made for the globalist elites, but it hurts the majority of Canadians, many of whom are being priced out of parts of our own cities.

That’s why the government must ban foreign home-ownership (as New Zealand is doing), and make sure that housing in Canadian cities remain affordable and accessible for our citizens.

Spencer Fernando

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Stephen McCrae-Gibson
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Stephen McCrae-Gibson

We see a direct effect of this in our Salmon Arm BC market. The house prices have aggressively gone upward in the last couple of years here. Local realtor’s say they have never seen the market as robust. This has left many local residents unable to buy into our local market due to the pressure from Vancouver realty. The rental market has also suffered from a renters point of view, with prices skyrocketing unrealistically. I see the average income local population struggling to make ends meet with so much of their income going to rent or mortgage payments that are… Read more »

Clive Edwards
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Clive Edwards

My wife and I recently left BC for Alberta. The deciding factor was the cost of living, even in rural BC. Albertans are the last hope for freedom in Canada. Just living in Alberta is a kick in the nuts for the globalist Agenda 21 crowd.

Joyce R.
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Joyce R.

Most foreign buyers pay cash for multi-million $ homes & no inspection. They buy entire floors of condos & entire subdivision of town homes then lease these homes. The other foreign buyers move their entire families here, elderly included. Become Canadian asap, then 1 or maybe 2 go back to China to work. Therefore they pay little to no income tax to Canada but their entire family uses everything income tax pays for. Property taxes do not cover their health care, their post secondary education, our infrastructure etc. They are rich freeloaders. This loop hole needs to be closed like… Read more »