I've walked through new residential subdivisions that have so many empty homes. It's very eerie.
Sounds very like where I live - well, apartments rather than houses. These monstrosities are mostly empty. Built by chink companies.
It's infuriating. Houses and gardens are razed, trees removed and in its place some empty dystopian building. And the govt has the utter gall to lecture us about the environment.
[ - ] Cunt 4 points 2.5 yearsJan 2, 2023 08:28:20 ago (+4/-0)
It wouldn't really help in Australia with those exceptions as most Chinese "investors" send the money to an immigrant like a student studying here to make the purchase on their behalf.
Very likely the same thing will happen in Canada too. These investors will find a way to either they themselves or their offspring achieve permanent resident status somehow in order to buy property.
Real estate, historically, is the only safe bet for peasant chinese to invest in. Most don't rent them, but I'm not saying chink landlords don't exist. An investment property just sits, often completely empty, until there's a need for that return on investment.
They even had a wild speculation system in real estate like our stock market pre great depression. I say "had", but I believe they're still trying to legislate it under control.
If their investment properties how come they don't rent them?
Chink businessmen and government officials buy them to move and hold their wealth outside the reach of the CCP, since anything based in China, including your personal and company bank accounts, is still technically government property and can be (and has been) clawed back with nary a moment's notice.
1% per annum is an acceptable loss in comparison to 100%, and besides, it probably accrues enough to offset that.
As for renting them out, that income would probably flag the investment with whatever version of the IRS China has, not to mention having the property available for quick sale by keeping it unoccupied in case the owner has to flee China and transfer their wealth in a hurry.
It's literally 10x profit around here.. 60k house in the 1980s. Now the lot is worth 600k.
And the area is going to shit because everyone who lives around here are cowards. Community watch organization headed by KIKES. Always consulting with the cops but nothing gets done.
Since you brought up empty homes, starting from this year Toronto is going to be imposing a tax on exactly that: https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax/ It's at 1% of the current value assessment of empty homes. IMO it probably isn't enough to hurt the bottom line of these foreign pests, but it's a step in the right direction.
[ + ] dulcima
[ - ] dulcima 9 points 2.5 yearsJan 2, 2023 08:41:02 ago (+9/-0)
Sounds very like where I live - well, apartments rather than houses. These monstrosities are mostly empty. Built by chink companies.
It's infuriating. Houses and gardens are razed, trees removed and in its place some empty dystopian building. And the govt has the utter gall to lecture us about the environment.
[ + ] Clubberlang
[ - ] Clubberlang 4 points 2.5 yearsJan 2, 2023 09:56:56 ago (+4/-0)
[ + ] AmalekTheZOG
[ - ] AmalekTheZOG 2 points 2.5 yearsJan 2, 2023 12:01:15 ago (+2/-0)
[ + ] Sunman_Omega
[ - ] Sunman_Omega 0 points 2.5 yearsJan 2, 2023 12:30:06 ago (+0/-0)
[ + ] Cunt
[ - ] Cunt 4 points 2.5 yearsJan 2, 2023 08:28:20 ago (+4/-0)
[ + ] oyy_veyy_goyy
[ - ] oyy_veyy_goyy 2 points 2.5 yearsJan 2, 2023 09:32:59 ago (+2/-0)
[ + ] AmalekTheZOG
[ - ] AmalekTheZOG 3 points 2.5 yearsJan 2, 2023 12:00:33 ago (+3/-0)
[ + ] ruck_feddit
[ - ] ruck_feddit 1 point 2.5 yearsJan 2, 2023 14:41:02 ago (+1/-0)
They even had a wild speculation system in real estate like our stock market pre great depression. I say "had", but I believe they're still trying to legislate it under control.
[ + ] Leveraction
[ - ] Leveraction 1 point 2.5 yearsJan 2, 2023 10:28:52 ago (+1/-0)
[ + ] La_Chalupacabra
[ - ] La_Chalupacabra 0 points 2.5 yearsJan 2, 2023 20:55:24 ago (+0/-0)
Chink businessmen and government officials buy them to move and hold their wealth outside the reach of the CCP, since anything based in China, including your personal and company bank accounts, is still technically government property and can be (and has been) clawed back with nary a moment's notice.
1% per annum is an acceptable loss in comparison to 100%, and besides, it probably accrues enough to offset that.
As for renting them out, that income would probably flag the investment with whatever version of the IRS China has, not to mention having the property available for quick sale by keeping it unoccupied in case the owner has to flee China and transfer their wealth in a hurry.
[ + ] letsgetit
[ - ] letsgetit 0 points 2.5 yearsJan 2, 2023 15:58:09 ago (+0/-0)
[ + ] HeyJames
[ - ] HeyJames 0 points 2.5 yearsJan 2, 2023 11:10:29 ago (+0/-0)
[ + ] namefagsrgay
[ - ] namefagsrgay 1 point 2.5 yearsJan 2, 2023 11:41:14 ago (+1/-0)
And the area is going to shit because everyone who lives around here are cowards. Community watch organization headed by KIKES. Always consulting with the cops but nothing gets done.
I miss living in the hood.
[ + ] Clubberlang
[ - ] Clubberlang 0 points 2.5 yearsJan 2, 2023 09:56:21 ago (+0/-0)
Like most of china's economy.
[ + ] oyy_veyy_goyy
[ - ] oyy_veyy_goyy 0 points 2.5 yearsJan 2, 2023 09:37:33 ago (+0/-0)
It's at 1% of the current value assessment of empty homes. IMO it probably isn't enough to hurt the bottom line of these foreign pests, but it's a step in the right direction.
[ + ] Clubberlang
[ - ] Clubberlang 1 point 2.5 yearsJan 2, 2023 09:58:30 ago (+1/-0)
So why would Canada allow slants to buy up Cannuck real estate?
[ + ] La_Chalupacabra
[ - ] La_Chalupacabra 0 points 2.5 yearsJan 2, 2023 20:57:44 ago (+0/-0)
[ + ] Deleted
[ - ] deleted 0 points 2.5 yearsJan 2, 2023 10:17:50 ago (+0/-0)