Targets Foreign Buyers with 15% Tax.
Commercial real estate in Calgary, the epicenter of the Canadian oil bust with 1.2 million people, is collapsing at a breath-taking rate.
The benchmark price for homes in Metro Vancouver soared 32% in June!
Having learned absolutely ZERO from Brexit.
And sales crash.
Bashing the dreams of the bondholders.
In Vancouver, 33% of sales are to Chinese investors (National Bank)
Suddenly lurking in the shadow inventory.
Banks are heavily exposed.
Worst Plunge in Retail Sales since 2008 as Inflation Whacks Consumers.