Foreigners buying up land in Ontario ???

[Entropy]

Got an eye opener today, at just how much land (farm land, vac land, rec land, forest, etc) is owned by people / investors who DO NOT live in Canada.

Kind of scary, when you think about it.

A local farmer rents the land (to grow crops on) and sends the 'rent cheque' to "their" lawyer in Toronto.

 

I guess I never thought this was allowed. Seems wrong eh.

[redpearl99]

what is so wrong about this? we do the same thing in other countries

[bigugli]

Some of the best hunting camps and shoreline have been owned by Americans since my grandparents era and before. Nothing new.

[fishindevil]

Nothing new !!! Brazilian investors as well as Chinese have bought tens of thousands if acres of land for mineral rights and prospecting claims in the last few years !!!!! A huge quarry just north of bobcaygeon they want to build and mineral rights are owned by some Brazilian and companies from South America !!!!!! Weird but yes it's going on big time right under our noses !!!!

[Old Ironmaker]

Nothing new there. What amazes me that certain areas seem to have investors from the same countries. Back in the late 80's,and early 90's it seemed everyone buying property in the Ottawa valley were from Germany. Might be word of mouth.

 

This had been going on forever, just coincidence most ownership in our county farms are second and third generation Dutch Canadian farmers?

[Rich]

Who do you think owns every Wal-Mart, McDonalds and Costco you pass? And bass pro for that matter?

[Shloim]

Who?

[Tim Mills]

Also happening in the maratimes (and probably elsewhere in Canada). Out of province and out of country investors buy waterfront property and build dream homes. As a result property taxes in the area skyrocket.

Some residents cannot afford the taxes and are forced to sell homes and land that have been in the family for generations.

[Garnet]

Rio Can own most of the plazas that Wal Marts are in. A Canadian REIT that I bought hard in the financial crash for $10-12.

 

Just look at the bottom of the plaza sign it will say Rio Can. I own 1" square in each plaza.

[Richie Razor]

The joke is on them.... just as they are snatching up condo's in Toronto, they are finding out investing in land in some parts of Ontario isn't as lucrative as they originally thought it would be. It's nothing new, but a bit discerning that Canadian land is owned by foreigners. The biggest threat imo are foreign Chinese investors - I mean they already own US debt (in the Trillions...) I wont go into great detail, but they are our biggest threat economically in the long term 10-20 years.... look it up.

[lookinforwalleye]

Well if that shocks you you would be down right flabbergasted by the amount of land that Canadians and Canadian corporations own!!!!

[Can_38]

Rio Can own most of the plazas that Wal Marts are in. A Canadian REIT that I bought hard in the financial crash for $10-12.

 

Just look at the bottom of the plaza sign it will say Rio Can. I own 1" square in each plaza.

 

Indeed they do...a client of mine. Largerst retail reit in Canada.

[Rich Clemens]

If I had the $$$$ .... I'd own a piece of water-front property up there somewhere.

[Roy]

Who do you think owns every Wal-Mart, McDonalds and Costco you pass? And bass pro for that matter?

 

 

Who?

 

Yeah, I'm curious too!

[aplumma]

You should see the number of people who live outside of Canada holding stock in Canadian Companies. Few countries would survive without outside investment to bring in an infusion of cash to help improve their economy. A piece of stock has just as much legal value as a plot of land.

 

 

Art

[Old Ironmaker]

Who?

Those are wholly owned US companies. As are the big 3 auto makers as well as most of all the consumer goods we buy here in Canada from your corn flakes to the boat you put your butt in after eating the Corn Flakes.

[captpierre]

the people with big money usually made it on land.

 

land in Canada is still cheap compared to other areas like Europe

 

economy, rule of law, politically, hard to been our great land

[Entropy]

I understand some cottages, commercial buildings, condos, the odd resort, but at some point 'this land is not my land, this land is not our land'.

 

Shouldn't a line be drawn before it is all owned by 'someone else'?

[Old Ironmaker]

Entropy,

 

There are entire departments in government that use your tax dollars to do exactly what you describe, and that is to encourage foreign investment, from small counties, large cities and both sitting parties provincially and federally. This a major goal of all G 10 countries. With an influx of foreign investment a stagnant economy is averted as without it the same loonie passes back and forth until the dollar isn't worth it's weight in sand. It is in the millions our federal government spends to encourage off shore influx of foreign cash. Do really don't think our ambassadors abroad are there to eat the food at all these functions they attend.

 

I respect your opinion and suggest you contact your member of Parliament and voice your concerns.

[Entropy]

Hang on, I'm getting educated here. You are saying that the foreign ownership of land in Ontario is a good thing for us? (just want to make sure my understanding of what you typed is correct)

 

Entropy

Entropy,

 

There are entire departments in government that use your tax dollars to do exactly what you describe, and that is to encourage foreign investment, from small counties, large cities and both sitting parties provincially and federally. This a major goal of all G 10 countries. With an influx of foreign investment a stagnant economy is averted as without it the same loonie passes back and forth until the dollar isn't worth it's weight in sand. It is in the millions our federal government spends to encourage off shore influx of foreign cash. Do really don't think our ambassadors abroad are there to eat the food at all these functions they attend.

 

I respect your opinion and suggest you contact your member of Parliament and voice your concerns.

Edited August 10, 2013 by Entropy

[Rich]

Everyone watch Zeitgeist the movie and you'll see how unimportant these issues really are.

[Old Ironmaker]

Rich I know this is a fishing forum, at least it used to be, but I think if a fellow member thinks it's an important issue to discuss I'll play. Need to check out that Movie.

 

Entropy,

 

I really don't have a strong opinion about foreign ownership of land, my grand father became a foreign owner as soon as he bought his first home here.

 

. The premise is if someone buys and developes the land, it will employ Canadians, and those employed Canadians pay taxes, as do the owners of the development.

[aplumma]

We are past the sealed border part of history we are in a world economy now. The value of money is what its perceived value is it is what another country decides what it is worth compared to what it is decided on in the country of origin. The US dollar is worth the price it cost to print it. That is it's value in material. The value is in what it will buy on the world market. In Canada in past it was worth 1.20 or as little as .90 cents depending on how strong the economy is. Outside investing brings the world in to drive up the material value of the Canadian dollar. If the world loses faith on the monetary value of the currency then it becomes devalued and does not purchase as much goods as its face value.

Picture being on a small island and the currency was shells. With the shells you can buy things from the other people there. Now eventually you all will decide one shell is worth 1 medium fish and everyone will use that as a base. Now a man shows up from another island and wants to buy fish using coconuts. No one on your island knows what a coconut is so it is decided it is worth 2 shells or 2 fish it has just devalued the shell by 50% until everyone on the island decided that one coconut is worth 2 shells. As trading goes on your island was valued as the total number of shells it had now with two items that have a perceived value so the gross value of the island economy has increased.

 

 

Art