>>eswat+(OP)
To maybe offer a different perspective:
I think the Canadian mortgages linked to Chinese accounts will likely all be paid.
What may be happening is that there is a lot of underground chinese financial activity that is not recorded in Canada and part of this 'network' is utilized to get money out of china.
>>Sunlig+bn
It's not a matter of if they get paid, it's the unfair advantage this gives in an already competitive market. 2/3 of these properties are probably rented out at inflated prices and the two probably pay the mortgage of the third owners live in. This is a free money glitch, aka fraud.
>>jeffbe+1A
The market's not bearing rent so much as existing property owners are colluding to prevent new construction.
If new construction wasn't so aggressively blocked in some major cities (San Francisco, Boston, all of Canada it seems), then the rents would not be nearly as high as they are.
Wealthy property owners are behaving a lot like a cartel in many places.
>>rybosw+lT
Exactly. The discourse about foreign buyers of homes in Canada is centered on the morally bankrupt notion that it is only wrong if that race exploits the system. If a good old white guy exploits the same system it is not worth mentioning. What I am saying, and you seem to concur, is that the system itself is the problem. The identity of the person exploiting it is irrelevant unless you are a racist.