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07-17-2012, 04:22 PM
Burke the Legend
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Originally Posted by Poulet Kostopoulos View Post
I always wonder where all the people buying these ultra-high-end condos are coming from. If it's some foreign "investors", then I am worried. I don't want Montreal to be a Vancouver.

Yeah, I'm happy that Montreal has its own "building boom" but it has to be sustainable. Another referendum and these volatile foreign investors may flee...
It is foreigners. Canada is a highly desirable place to be and there's 100,000s of millionaires trying to get in. The govt just froze the immigrant investor program (which fast tracks millionaires in) everywhere but Quebec for 6 months so they could deal with a huge backlog and streamline it going forward.

There is TONS of money lined up to get into Canada to support this real estate, and as the rest of the world turns to crap, its not gonna slow down anytime soon. People are really beating at the doors to get into the few primo places that are clean, economically sound and stable politically, Canada is on the short list with countries like Australia, New Zealand, Switzerland, Singapore, Norway, Sweden (note - all relatively small countries).

NOT a political statement, just neutral facts of the reality. Step back from the local politics for a minute, cuz in the worldwide picture Canada is relatively in GREAT SHAPE and lots of millionaires from a place like China are lined up to get out of the smogsoup of Beijing and live a nice clean place like Brossard cuz they see a better future here and for their kids than in China.

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