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Vancouver home sales plunge 38.8% last month, real estate board says

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Canadian Realestate Magazine | 02 Nov 2016, 03:55 PM Agree 0
The Real Estate Board of Greater Vancouver says home sales plunged 38.8 per cent last month compared with October 2015
  • MF | 03 Nov 2016, 12:29 AM Agree 0
    So, a "triumph" for anti-foreigner residents who need "rewarding" for being Canadian? This is not how markets work. Instead of picking on foreigners and suborning the notion that tax hikes supposedly strengthen the real estate market, activists ought instead to be pressurizing local politicians to expedite lax officials' processing of applications for land release for new condo developments. Instead of finding fault with investors for paying into new condo developments (after all, banks won't fund some of them until 80% of the units have been sold, pre-construction), self-congratulatory activists ought to be encouraging investors instead.

    Although the anti-foreign investment sentiment in BC is very inward looking, its similarity to that of Bolivarian revolutionaries who have increasingly isolated Venezuela is acute.
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