REPORT: Increasing Number Of Mortgages In Canada Are Held By Non-Citizens


The numbers are highest in Vancouver and Toronto.

More homes in Canada are being bought by non-citizens, according to a new report.

According to BNN, “The share of Canadian mortgages held by foreigners has risen in the last two years, particularly in Vancouver and Toronto, and young home buyers among them appear to be getting financial help from their parents, the federal housing agency said on Tuesday. Nearly 10 per cent of mortgages issued in Canada’s two hottest housing markets in 2016 went to non-permanent residents under the age of 25, the Canada Mortgage and Housing Agency (CMHC) said “signifying some younger NPR (non-permanent residents) may be receiving parental support to purchase homes.”‘

In Vancouver, the number of mortgages held by foreigners went from 3.4% to 3.9%.

In Toronto, the number went from 2.1% from 2.7%.

Notably, the report shows that non-citizens bought more expensive residences, “with the average single detached home purchased by a non-permanent resident valued at $1.09 million in Toronto and $1.65 million in Vancouver.”

For comparison, “That was above the average $902,000 and $1.42 million bought by permanent residents in those cities, respectively, the report showed.”

Though the government is scared to admit it – for foolish politically correct reasons – Canadians know directly that the surge in foreign homebuyers has pushed many Canadian citizens out of the housing market of our own cities.

It’s a sign of deep political corruption when politicians and elites allow wealthy non-citizens to push Canadians out and severely distort the market.

That’s why Canada needs to look at what New Zealand is doing – a full ban on foreign homebuyers.

We need to get tough and protect affordable home ownership for Canadians.

Spencer Fernando

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6 comments Add yours
  1. I’m no economist or real estate agent but it seems to me that even just the perception of deep pocket foreigners wanting to move into the Vancouver and Toronto markets is reason enough to fuel speculation. Sorry, no property for foreigners until they become citizens. It’s the right policy for Canada.

  2. Restricting foreign ownership would piss off many of the donors to the Justin Trudeau Family Benefit Fund and have a considerable effect on the accounts in his Chinese Communist Bank.

  3. All one has to do world wide is watch Million Dollar Listings (yes, I know it is a reality show) but ALL CASH and all from China, and other Countries. Billionaires who many in Politics aid and abet by the way! In my small City in Ontario they are coming in and if a house is listed at 220K they are coming in at 270K CASH – all CASH and quick closing dates. That is 70K over the asking and they do not even look at the house (no walk through…no nothing) You want to know why housing is out of control….here is the BIGGEST problem that no-one is curbing

  4. THAT is VERY disconcerting!!! We should NOT have foreigners buying up our real estate, it is destroying Canadians’ ability to purchase real estate! We will become tenants to foreigners, in our own country and THAT is especially bad!! We CANNOT afford our own real estate! Canada has become a country of deeply indebted citizens… or peasant slaves to foreign international banks! I blame golbalization for our increasing predicament and the governments that enable it! Real estate is beginning to drop both in purchasing and price, according to news today!

  5. Under 25? This doesn’t make sense? How can someone under 25 get a mortgage on a vancouver/toronto house? These are anchor babies of some kind ………Mom and Dad’s money? Who is living here? This doesn’t make sense!

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