Why Canada Closing Off Its Market Might Backfire

Canada is closing its borders to foreign investment in real estate, meaning you have to be a Canadian citizen to buy real estate in Canada. Now I get why they're doing this. They've had a ton of Asian influence coming in and buying up properties and inflating their real estate market, and they're trying to allow Canadian citizens to go and be able to afford a home and buy a home in Canada. And so what this does is it hurts asset prices across the board because there's less demand for properties. Additionally, companies like BlackRock just recently bought a company and opened up offices in Toronto and other major cities so that they can still buy real estate across Canada. So it's not blocking these big corporations like BlackRock. So overall, I do not think this is a good policy long-term because it hurts the supply and demand curves for the economy across the board.