I would also add that there needs to be proof of source of income for the purchase and/or mortage payments, with full employment background checks.

I have heard stories of houses purchased by a single person claiming “housekeeper” or “artist” as their income, mysteriously able to make huge mortgage payments or purchasing mansions outright. Turns out they were, of course, getting off-shore funds from a spouse or relative, and the job they claimed was just a sham.

The ones that need to take out a mortgage are the small fish.

Agreed. Some speculation online that China could be cracking down on rich citizens’ foreign investments via Canadian + other nations housing, since that money could be lost if sanctions were ever imposed due to, for instance… invading Taiwan. Let’s hope that isn’t the reason…

I’d love for housing prices to go down for younger people to be able to afford something, but if it all crashes too quickly, it’ll be really painful for everyone.

In this case, the owners of both are the same. My guess is, if one goes poof the owners struggle for liquidity, selling other assets.

Most of the people trying to find a home in canada arent also in the market for a home in china and vice versa.

This reads more like they expect to be forced to sell by legislation or other outside circumstances soon and want to try making more money before people lnow they have to exit soon.

Bitcoin should go up when USD and the economy crashes logically, but it goes down (also it’s a ponzi scheme so it doesn’t need to make sense). For the same reason this isn’t true, people sell other assets when they take massive losses in one category and become insolvent. Liquidity and value of assets lower accross the board generally in this interconnected world economy of the modern era.