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Here are Paul Evans’ (often measured) responses to some of what Pendakur had to say:

Q. Prof. Pendakur believes there are too many loopholes in Canadian immigration and investment policy, which makes it possible for foreign nationals to find a safe haven from taxation and their own governments while flooding the Canadian market with foreign money.

PAUL EVANS: The loop holes are gradually being closed.

But Professor Pendakur is right – that we need to address the problem openly. My sense is that it is not a China problem, but a Canadian regulatory problem.

In other jurisdictions, including where I {have recently been}, Singapore, there are firm and clear rules on disclosure, identification of ownership etcetera.

Q: What do you think of Prof. Pendakur’s belief that wealthy Mainland Chinese have discovered Metro Vancouver and are busy trying to invest their money here in housing, as a safe haven for their riches?

EVANS: Some have. Though Vancouver (and Canada) is just one place that Chinese families are looking to invest for purposes of security and financial return.

There are several global cities, including London, New York, San Francisco, Sydney and Singapore that are attractive for asset investment via residential property acquisition.