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B.C. numbers show drops in foreign property buyers since targeted tax

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Canadian Realestate Magazine | 22 Sep 2016, 01:43 PM Agree 0
Property purchase data released today by British Columbia's Finance Ministry indicates a stampede by prospective foreign buyers to avoid paying a 15 per cent tax in the days before the Aug. 2 deadline
  • MFenn | 22 Sep 2016, 04:33 PM Agree 0
    While it might make (un-Canadian) xenophobes and anti-investment Diefenbaker nostalgics "feel good", the wider implications of driving away investors may cause Canada's reputation among those who study the market to suffer.
    • Canuck | 23 Sep 2016, 10:17 PM Agree 0
      Respect your wider view as its not always as simple as it seems. But really I don't think making overseas investors happy is any reason to have a market where a 30 year person born and working in Vancouver can't even afford to own a place to live in without having rich parents or pledging to a live of grinding away to just stay above water. I really don't care if someone in China doesn't want to bring their money here to inflate our market. We are doing just fine here in Canada and I doubt that stopping rich Chinese parents buying five million dollar homes for their kids at UBC is going to shut our country down. I can (probably safely) assume you are an investor or person that makes pretty good money off various things including the real estate market. Good for you, but its about time we put Canadians ahead of foreigners. If that means you have one less car in your North Van garage suck it up buttercup
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