Canadian Prime Minister Justin Trudeau is indeed a game changer in the Canadian government. Aside from voicing out and practicing equality as noticed in his cabinet, he is also into the proper assessment of Canadian real estate market. In a recent report concerning his year-end interview with Canada's Global Television Network, Mr. Trudeau pointed out the risk involved in curbing foreign real estate investment. On a transcript via Wall Street Journal, the Canadian Prime Minister stated that;
"You know you have to be cautious about decisions like that that are based on a single factor because at the same time [it] would potentially devalue the equity that a lot of people have in their homes right now."
Mr. Trudeau contends that moving out with the idea of curbing investments of foreign investors would have some serious impact with the Canadian real estate. The lack of "concrete evidence" would mean that the government should be very cautious on their move for it may devalue the equity of other properties. According to Mr. Trudeau via WSJ, he pointed out that, "We have to be very, very cautious about restricting foreign investment in our country at a time where we know we need foreign investment in businesses, in resource development."
Extra care should be given to the said issue for foreign investment is indeed of great help for a country. Some economist pointed out via WSJ indicating "strong sales and price growth in Toronto and Vancouver are supported by job creation in the two metropolitan areas." With such positive result, the government should somehow heed on Mr. Trudeau's advice, for without insufficient data any interventions in the real estate market concerning foreign investments could be disastrous. On the other hand significant restrictions could likewise be made which could protect the interest of the country, its people, and future investors.
