Real Estate Concerns

My notary in Canada says Quebec is going to start prohibiting non-residents from buying real estate in the province. That’s wonderful and pretty unbelievable news. Young couples in Canada no longer can buy a house in major cities in Canada because real estate is being bought out by rich foreigners as an investment, and this drives up the costs of housing in insane ways. This, if true, will be the most nation-state measure I’ve known Quebec to take.

Our town was always great in terms of housing prices. I used to see many students graduate, get married and buy a house for $110,000-$130,000. But now, it’s weird. We have new apartment buildings with $700,000 two-bedroom apartments and a whole new lane of Tesla chargers being installed. It feels like a bunch of rich people moved in.

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