Canuck Post ®

Inside Canada’s vibrant Rio Olympic House by Yabu Pushelberg by Lauren Ro   For the first time ever, the Canada Olympic House , the Rio home base for Canadian Olympians and their friends and family, was designed by Canadians. Ontario natives George Yabu and Glenn Pushelberg, who are best known for their luxury hotel, residential, and commercial interiors like the Four Seasons Toronto and Park Hyatt New York, simply asked the Canadian Olympic Committee: “What can we do for Canadian athletes to showcase their country?” Yabu recalled. The deconstructed Canadian flag is made up of hundreds of hanging ribbons.

Jonathan Manthorpe  believes there is a direct line linking the explosive real estate bubbles in Toronto and Vancouver and how secure Chinese President Xi Jinping looks on his throne. How China’s Politics Messing Up  Canadian Real Estate Markets The evidence — the vast amount of money being spirited out of China by relatives, friends and cronies of the Red Aristocracy around Xi — suggests he’s set to tumble . Last year about $US1 trillion was spirited out of China by Communist Party leaders and their hangers-on, in defiance of currency regulations. Image Source They clearly do not feel the regime is secure and want their assets hidden away in stable overseas havens like Canada, the United States, Australia or Europe. Sounds like it’s not “London Bridge is falling down”, its “The Great Wall is tumbling down”?

After predicting (actually complaining about) Vancouver will be a ghost town soon, and that Vancouver will belly up because no foreigner will come simply because there is 15% tax on foreign home ownership. Image Source Pundits have it there will be a spillover effect into other Canadian markets as a result of the new 15% tax on foreign buyers in Vancouver. They believe Toronto will stand to benefit the most. And that Toronto will soon be the playground of the rich aliens, with every single sales attracting zombie-like buyers engaging in fierce bidding wars, making offers many hundred thousands above asking price … They even think Montreal will be next city to boom. In short, everywhere else will have good times except for Vancouver. What do I think?

The Canadian Mortgage and Housing Corporation’s (CMHC) latest report warns of “problematic conditions” in the country’s largest housing markets. “In Toronto and Vancouver, this is due to the combination of price acceleration and overvaluation.” In an attempt to cool the most controversial housing markets – Vancouver, whereby average home prices has shot up more than 36% in just the last 12 months alone, the province of British Columbia is attempting to pump the brakes on foreign ownership, long suspected of driving up prices in Canada’s hottest housing market, by imposing a 15 per cent tax on foreign nationals buying property in Metro Vancouver. Twitter The situation is not only alarming, it is actually becoming a social political hot button. Some folks regard the foreign money as “imported housing virus” … the cause of the house prices insanity. This is further confirmed by today’s Bloomberg report: –