http://cponline.thecanadianpress.com/graphics/elections/provincial/pages/ONT-ELXN/

this link is the Ontario Provincial election results, June 13, 2014.

The Liberals win on a Toronto urban surge.

Mortgage Fear, just like in BC.

@Tiger – So?? What’s the big deal here? Are you implying that only non-Chinese should be allowed to buy and develop land?

Canccord Pacific for all intends and purpose is a HK company and its one of the biggest developers in BC now. Do you think they should be barred from RE investments & development in BC?

@TheTop – I used to be bear back in 08/09 until I saw just how badly wrong I was. I’m not a full fledged bull on RE and frankly I’m hoping it will fall a lot since I’m in the market. However, I also realize that just cuz I want something doesn’t mean it will happen, no matter how rightly I think things should go certain way.

Presently I see no reason for SFH home prices to fall. I’m surprised at the strength of condo & TH prices and I can only attribute that to low interest rate, frustration, and stupidity of local buyers.

@WSR – As for health care, I doubt these rich people are willing to wait years to see a specialist or get an operation just to save some money. They are more likely to pay for immediate treatment back home.

@WSR – As for healthcare, I doubt these rich people will be willing to wait years to see a specialist or an operation, while their condition gets worse, just to save some $$$. They are more likely to pay for it in China for immediate treatment. Most people who care about their own health would pay $$$ to get immediate treatment if they can.

@WSR – And yet, given the argument that they are absent all the time, how much local city & provincial services are they using?

As for healthcare, I doubt these rich people will be so tolerant and wait for years for a specialist or an operation while their condition gets worse, just to save some $$$. They are more likely to simply pay for it in China for immediate treatment.

@WSR – And yet, given the argument that they are absent all the time, how much local city & provincial services are they using?

As for healthcare, I doubt these rich people will be so tolerant and wait for years for a specialist or an operation while their condition gets worse, just to save some $$$. They are more likely to simply pay for it in China for immediate treatment. Most people who care about their own health would pay $$$ to get immediate treatment if they can.

@WSR – those foreigners don’t pay property taxes on their properties? Or GST/PST on all their luxury purchases at Holt Renfrew, Tiffany, Hermes, LV, Prada, and now Nordstrom stores? Or all the various jobs like gardener, property maintenance, and restaurants they are supporting? Or gas taxes on the most expensive grade of gas for their luxury car and associated high cost maintenance costs? Let’s not forgot all the $$ they are pumping into private schools in Vancouver as well – just look at St. George.

@bullwhip29 – If the construction for a new luxury mansion is $1M now then 1% of that is ~$10K/yr which is reasonable for the decade or two. I wouldn’t include stuff like stainless appliances, renos. Maintenance would simply be the house itself and ensuring it is cared for.

@jonathan – Sure…I am referring to that you can’t just assume a standard tax rate off a certain income since 2 income vs 1 income makes a huge difference in total taxes paid.

As well, not related to your post, that most buyers of $1M+ homes aren’t paying the minimum down payments which for some reason bears on this blog always assume they do as first time buyers. That’s just not the case.

Lastly, again nothing to do with your post, for all the bitching and complaining about foreign money, they don’t seem to realize that Canadians have been doing this to many other countries for decades. Now that table is turned they get all indignant about it….what’s that phrase? Karma is a bitch?