For­eign own­er­ship drives up home prices

The Peterborough Examiner - - Opinion -

The price of hous­ing in Peter­bor­ough is de­plorable, but its cause is not just a lack of devel­op­ment. Devel­op­ment has been held up in one case be­cause some­one was con­cerned about wet­lands. Bet­ter to keep wet­lands than to de­velop more land for hous­ing.

If you owned a small house in Toronto you are now a mil­lion­aire. And, all puffed and newly rich you move to Peter­bor­ough and buy a much nicer house for half the price.

As long as gov­ern­ments think it is great to have ques­tion­able money buy­ing ev­ery­thing in sight in Canada then noth­ing will hap­pen ex­cept for the com­plete dec­i­ma­tion of the mid­dle class. We now have peo­ple that will never be able to buy (or even rent) a house. At one time this would have been un­heard of in Canada. Af­ter all, we all know how large Canada is.

To now say that the aver­age tax­payer should have to pay more taxes to make up for this de­ba­cle is lu­di­crous. The tax­payer isn’t at fault. Look to your politi­cians. Look to who is buy­ing up Canada and wreck­ing it.

This is not just hap­pen­ing in the GTA. As an ex­am­ple, I was sit­ting in a vet­eri­nar­ian’s of­fice and the man next to me said he was a farmer. He hap­pened to mention that all the hilly farm­land sur­round­ing his farm was be­ing bought up by Amer­i­cans. He said they were buy­ing it be­cause of cli­mate change.

As a sec­ond ex­am­ple, a friend rented a cot­tage this sum­mer and the owner men­tioned that the cot­tage across the way was bought by non-Cana­di­ans eight years ago but had not yet been used.

A fi­nal ex­am­ple, an­other friend who owns a cot­tage got a new neigh­bour from the U.S. who lev­elled the nice house next door and built a brand new huge one. They fly in from Cal­i­for­nia ev­ery week­end.

Canada isn’t just open for busi­ness. It is be­ing bought up. By al­low­ing big money to buy up Canada we are se­verely chang­ing this country. I don’t think most Cana­di­ans know what’s go­ing on.

Pa­tri­cia Reedyk, Parkhill Road West

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.