Toronto Property Hottest property market in the world is not Toronto or Vancouver – YouTube

Hottest property market in the world is not Toronto or Vancouver – YouTube

The property, real estate bubbles are found all over the world, which means the next economic crash will be the ‘mother of all crashes.’
Sounds like Canada eh? read on…
New Zealand tops world house price growth list…
Ten years ago the average house price was NZ$500,000 (£277,000) – this week it peaked at NZ$1m
So who owns these properties?
Increasingly, not New Zealanders. Foreign investment in Auckland has boomed .
New Zealand housing crisis forces hundreds to live in tents and garages…
It’s not been called a “crisis” lightly. Just before winter, stories emerged of hundreds of people living in tents, garages and shipping containers because they could not afford to rent, were on waiting lists for a state house or had given up trying.

Families with newborns were discovered sleeping in cars and under bridges and were taken in by local maraes (Māori meeting houses).
New Zealand’s central bank imposed strict new deposit requirements in July, making investors put down at least 40% of the purchase price in cash.

Video: Toronto homeowners brace for possible property tax increase in 2017

The average homeowner in Toronto will also pay more for water and garbage services.

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