My blood's boiling & you're about to feel the same way.

It's ๐Ÿ‡จ๐Ÿ‡ฆ's international students. Not them, but the diabolical, complex, & unimaginal scheme to fuel ๐Ÿ‡จ๐Ÿ‡ฆ's growth.

Here's how ๐Ÿ‡จ๐Ÿ‡ฆ manufactured an exploitation machine & sold it as social good.

<thread> ๐Ÿงต๐Ÿ‘‡
2/ ๐Ÿ‡จ๐Ÿ‡ฆ has always embraced international students, & the money they bring. They pay A LOT.

Domestic tuition at UBC or U of T is ~$7k, but ~$60k for those on a study permit.

Naturally, this skews the crowd towards a well-heeled demographic. That changed in 2019.
3/ ๐Ÿ‡จ๐Ÿ‡ฆ's largest source of international students was China, with the 2nd highest concentration of millionaires.

Many of the students were from these households, reinforcing that perspective in ๐Ÿ‡จ๐Ÿ‡ฆ.

In 2018, Canadian-China tensions rose & ๐Ÿ‡จ๐Ÿ‡ฆ lost its appeal in China.
4/ ๐Ÿ‡จ๐Ÿ‡ฆ, addicted to the cash, cooked up a $148m plan to replace those students with new onesโ€”primarily in developing countries.

Permits to students from India spiked fast... strangely fast. Who are these students? Get a spoon to bite, because this is where it gets f*cked. Image
5/ India is a FAST growing country, forecast to have the world's largest middle class soon. It has wealthy families, but they aren't moving here.

An Indian university study found most students looking to study in ๐Ÿ‡จ๐Ÿ‡ฆ are from low-income farming regions & know little about it.
6/ What they "know" is what the recruiter told them: It's filled with opportunity, automatic PR, guaranteed gov jobs, etc.

Sometimes, the recruiters "get them in" to prestigious schools they could never actually get into. All liesโ€”they'll say anything for the commission.
7/ Recruiters tell these families their kid is brilliant & just in the wrong country. Find a way to pay their education, & all of the parents' hard work pays off.

Bet the farm, like good parents do. So they round up their savings (& sometimes relatives). They take out loans.
8/ Heck, some literally bet the farm.

Oh, some recruiters know people that specialize in high interest loans secured by your farm? Super convenient.

Oh, they have a secure stream of capital, a lot of it from investors in ๐Ÿ‡จ๐Ÿ‡ฆ? So lucky, what are the oddsโ€ฝ
9/ So the kids get to ๐Ÿ‡จ๐Ÿ‡ฆ & don't arrive at UBC or U of T, but a private career college in a strip mall. Sometimes not even the school they applied to.

Some schools popped up almost overnight, others don't have classes some semesters, & some have no domestic students.
10/ Some are run by swell folks who are strangely close with alleged organized crime groups. Opportunity is everywhere!

Anyway, once you're registeredโ€”you can start vouching for visas, there's no limit. ๐Ÿ‡จ๐Ÿ‡ฆ wanted this, after all.
11/ So they:
- spent $50k to go to a diploma mill;
- don't speak english, because of testing fraud;
- have no money;
- often rent mattresses, taking 8/hr shifts w/other students;
- if this doesn't work, their parents lose everything

A TO funeral home sends 5 dead back per month.
12/ Don't worry. ๐Ÿ‡จ๐Ÿ‡ฆ will help, right? In 2022, it lifted the restriction of 20 hours of on-campus work, to "help" ๐Ÿ‡จ๐Ÿ‡ฆ solve its low-wage labor crisis.

Those viral videos of hundreds of people waiting in line for a low-wage job interview? Those are mostly international students.
13/ To reiterate, ๐Ÿ‡จ๐Ÿ‡ฆ scoured the world for poor families. Promised opportunity if they risked everything. It turns out there was no opportunity, so now they're stuck paying off debt while most of their income is consumed by shelter costs.

It sounds familiar, but why evades me
14/ but here's the kicker. Other countries where this scam was brewing signed an inter-country agreement to refuse unethical student visa brokering.

Did ๐Ÿ‡จ๐Ÿ‡ฆ? Nope, it actively rejected it. Once again, because this is a part of its strategy. </thread>
ps Iโ€™m still enjoying retirement, but Iโ€™ll return and plan to respond to your everyoneโ€™s thoughtful DMs.

As for those that emailed me, uhโ€ฆ maybe not? ๐Ÿ˜ฌ Image
If itโ€™s important, get a cat. I always respond to cat photos.

โ€ฆ or try texting. I can probably get to text inbox zero by 2am-ish. ๐Ÿ˜… Image
Should also mention that when ๐Ÿ‡จ๐Ÿ‡ฆ says they want international students as a diplomatic tool, itโ€™s because the families will have a favorable view of a country their kids study.

Important to protect ๐Ÿ‡จ๐Ÿ‡ฆโ€™s public pension assets in India, where theyโ€™re scooping up real estate. ๐Ÿซ 
A few replies forgot the first threadโ€”you will also be angry.

Most Canadians don't want this stuff. It's like the laundering issueโ€”the gov is ignoring it because it improves performance indicators. We want a strong economy, but not this way.

โ€ข โ€ข โ€ข

Missing some Tweet in this thread? You can try to force a refresh
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More from @StephenPunwasi

Apr 21
Why is every politician discussing their aggressive plan for affordable housing?

โ€ฆ even the ones you know donโ€™t care about it?

Well, they hijacked the term and weaponized it against the people who need it. Hereโ€™s how.

<thread> ๐Ÿงต๐Ÿ‘‡
2/ in ๐Ÿ‡จ๐Ÿ‡ฆ, the term affordable housing now means a rental thatโ€™s 1/3 the median household income.

First off, a third of income isnโ€™t really affordable. A third of income is the max allowable payment a mortgage borrower can accept before theyโ€™re considered too risky of a payer.
3/ so, affordable really means the max a person can reliably pay without being a default risk in this case.

in Canada, it also means maximum regulatory leverage. That doesnโ€™t feel the same, does it?

Wait until you realize how that plays into distribution.
Read 9 tweets
Apr 17
Hoping for lower mortgage rates?

Central banks are saying the era of low rates are over & you might agree if you knew how we got there.

Let's talk about the 2008 Global Financial Crisis, your mortgage rate, and China. Seriously.

<thread> ๐Ÿงต๐Ÿ‘‡
2/ First off, it's important to remember interest rates are relative to inflation.

Inflation is different in every country but one currency influences them allโ€”the global reserve, aka the ๐Ÿ‡บ๐Ÿ‡ธ dollar.

The global reserve is extremely important for conducting trade.
3/ To avoid being paid with worthless money, when two countries conduct trade they use the global reserve.

As a result, global commodities are generally priced in USD, such as oil, steel, and lumber.

Ex: Oil prices can be flat but weaker $CAD leads to higher prices in ๐Ÿ‡จ๐Ÿ‡ฆ.
Read 15 tweets
Jan 24
About 80% of Singaporeโ€™s population is housed in public housing, but not the kind in the West.

Low income families & young couples to high income bankers and business people live in them.

Theyโ€™re incredibly affordable. How? Only citizens can live in them.

<thread> ๐Ÿงต๐Ÿ‘‡
2/ Singaporeโ€™s public housing scheme is run by its Housing & Development Board (HDB), and public housing is appropriately called HDB flats.

Rather than auctioning off all gov land to private companies, the gov develops the land and sells 99-year leases for the units.
3/ Since these are leasehold properties, with the government retaining ultimate control over the land.

The homes are traded in open market, and you can get a mortgage to buy them. Appreciation is slowed as the units approach the end of their life though.
Read 9 tweets
Oct 24, 2023
Higher property taxes. Higher home prices. Disregard of basic real estate education.

Let's talk about how you were sold into advocating for those issues against your own interest, by politicians pushing for broad zoning deregulation.

<thread> ๐Ÿงต๐Ÿ‘‡
2/ First, let's discuss that we need more housing & governments supportive of building more homes.

However, we also need to discuss how lobbyists & politicians in the deep pockets of developers, intentionally conflated the need for more housing with deregulation.
3/ you also need to understand this little issue: real estate is valued at its highest & best use, not its current use.

btw this is from the textbook Principles of Appraisal, so every real estate agent in Ontario understands this, but not all will admit it. Image
Read 18 tweets
Oct 18, 2023
Letโ€™s talk about how AirBNB helped drive rents & home prices higher.

Most people think 1 or 2 points canโ€™t influence a market. Theyโ€™ve likely never worked at a hedge fund.

<thread> ๐Ÿงต๐Ÿ‘‡
2/ Itโ€™s not about the total market, but liquidity.

Stock prices arenโ€™t based on every unit trading. Theyโ€™re based on the last trade.

Every trade executed at or above the last trade reinforces a value.
3/ Letโ€™s say an AirBNB rents a unit for $3k/month, but long term rents are $1k/month.

Which would you rather? Thatโ€™s what an investor wants too.

But what if renters really need that unit? They have to compete.
Read 9 tweets
Sep 30, 2023
Dear capitalists,

If your house is your largest asset, you arenโ€™t a capitalist.

The banker that lent you the mortgage is a capitalist. Youโ€™re the means of production they ownโ€”labor that generates their wealth.
The term capitalist originally described a person w/ significant capital used as the means of production.

If you still think youโ€™re a capitalist, why stop there? You can also be a sea pirate without ever setting foot on a boat or a race car driver thatโ€™s never driven a car.
I saw a Realtor say people should buy a house because Warren Buffett says, be greedy when others are fearful.

Buffett, who bought his house for $31k in 1958, is most certainly not referencing a primary residence. ๐Ÿ˜‚

finance.yahoo.com/news/warren-buโ€ฆ
Read 4 tweets

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