re: HSBC Leak: "Fake Chinese income" mortgages fuel Toronto Real Estate Bubble

quote:

---

How many re rentals where they’re just cash flowing it? That lady can’t live in four houses.

---

If you Google you will see they weren't even renting them. They were just sitting vacant. There were articles and articles about this as the bubble got bigger in Toronto. As I linked above Canada passed a tax on vacant houses to combat it and Toronto recently raised their vacant tax because it wasn't working as fast as they had hoped to force people to sell.

quote:

---

Hardly, takes a special kind of ignorance and poor education not to know what China is doing to damage Western countries and inflate its own economy. It's spent the last few decades squeezing what it can out of its own people to build a massive middle-class with inflated buying power it's turning its sights on poor countries for their mineral resources and rich countries for their capital investments.

---

lol. I’m not ignorant I’m just not dumb that falls for crap the media prints. It’s not as easy as you think to just invest overseas. It still takes cash down and a home still has to be maintained. There has to be a caretaker of some sorts.

You realize Americans invest overseas as much or more than any other country right?

ETA: some call it ‘inflating’ others call it investing and selling at the right time. It’s done all the time, what do you think Americans do with second homes all over the world?

The difference is that Americans typically do this to use as vacation properties or rental income. Chinese are using them purely as a store of value because the investable assets in China are seen as too risky.

China has a real-estate bubble because investing in new apartments was the only investment that was likely to make money. Now that everyone can see the Chinese real estate market is collapsing, they’re trying to find anywhere else to park their money.

This.
This is why achieving an education is important and why you can’t receive one. Slapping letters and resume credentials on an uneducated person is the recipe for chaos.

China experienced incredible hardship at the hands of the British Empire and American robber barons. We got their population addicted to opium. It got sooooooo bad their peasants led an uprising to kick out the Americans and British. The Boxer Rebellion.

Fast forward 100 years.
China is returning the favor. Our political system encourages and rewards high volume short term grifting by career politicians who barely hide their treasons. It’s nothing for the Chinese to buy them off and flood our country with Fentanyl in the second Opium Wars. They are disrupting our economy the same way we disrupted theirs before 1900. We are only thinking to the next election cycle. The Chinese are thinking about 2124.

quote:

---

Did they defraud the bank to get the loans to buy the property and just never pay the note? If no one’s paying the note, why wouldn’t the bank just repo the property?

---

Because we are talking about Canada here. The most cucked country with King Cuck himself running point.

The US and Canada probably need to go to citizen owned property only.

China/Chinese companies should be stripped of all property

So Canada doesn't verify income? Good to know.

If anyone wants to take a look at the ownership of the condos in the converted Chase building south tower, I can promise you there are some Chinese names.

Because that would never cause an epidemic of homelessness and addiction. Look around folks. They don’t want the real estate.

They don’t want to rule over the trailer parks and 3500 square foot cardboard cutouts, either.

This is about giving us just enough rope to hang ourselves. Doing the right thing is difficult. It’s an everyday struggle.

Being a lazy arse complainer who expects the rest of us to clothe, feed, and house your stank is easy.

Anyway, I don’t want to ruin the surprise.