Just like the Japanese before their bubble burst. In 1991 They paid record amounts for real estate and works of art. Then, bang!
“White Spot site sale rings in at $245M, set for residential development
The large plot of land on West Georgia Street has been sold to Carnival International Holdings Ltd...”
http://www.cbc.ca/news/canada/british-c ... -1.4463594
Gotta rein in the foreign money …
“Foreign ownership of real estate rises in Montreal, new data shows
… The non-resident share in Montreal climbed from 1.1 per cent in 2016 to 1.7 per cent in 2017, according to a report by Canada Mortgage Housing Corporation (CMHC) in collaboration with Statistics Canada.
Downtown and Nuns' Island reported the largest increase in the Montreal area, up from 4.3 per cent in 2016 to 7.6 per cent this year.”
https://ca.news.yahoo.com/foreign-owner ... 57217.html
Have a Happy New Year
