>>12692949In the business world, rumour circulated that Canada was going to remain stable through the pandemic and basically be an insulated market from the coming covid crash.
Everyone, everywhere, has been racing for the past 2 years to dump their financial assets into canadian markets in one way or another because as the rest of the world's markets downturn, it's free equity. Property is one of the major targets because it's such a good investment. Toronto's surrounding area is nearly as large as New York and expanding almost twice as fast, with virtually unlimited space to develop into. Every piece of new development is equity to almost all property in the area, no matter how shitty that property is. That makes it a great investment at the best of times and basically the only good investment during a global downturn this one market isn't nearly as affected by. Buy a shit house, hire a team to flip it, let it sit and generate equity through the recession and then sell it off as the global economy starts to bounce back and you'll have tripled or quadrupled your money.
It's also fueled by the fact that China's recent political turmoil has sent its richest racing to offload their yuan into foreign investments that will generate equity so they can get the fuck out of China ASAP.
