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We should ban Chinese main landers from buying houses in Vancouver as it's destroying the city in the process. Unless we are okay with the city being basically
by x5n1 11y ago
We should ban Chinese main landers from buying houses in Vancouver as it's destroying the city in the process. Unless we are okay with the city being basically unaffordable for the local population, and just enriching real estate agents and property investors at the cost of the city.
- landryraccoon 11y agoIs the city unable to build more housing? Why don't higher property taxes on non-owner occupied buildings solve the exact problem you're talking about?
- hoodoof 11y agoBuild more, to will sell to........ the highest bidder! And the highest bidder is not middle class people. And when you raise taxes that are directly levied against overseas buyers, then the government becomes addicted to those taxes and therefore addicted to overseas buyers.
- kspaans 11y agoPossibly you could circumvent that addiction by making the tax an LVT. Make the effect on locals neutral by reducing property taxes and/or PST by about the same amount as the revenues from LVT. Thus the only payers with an increased tax bill are non-resident owners.
- mywittyname 11y agoIssue refunds other owners in the amount of the extra revenue taken in by this tax.
- deleted 11y ago[deleted]
- mistermann 11y agoI'm under the impression that any zoning changes would immediately cause land prices to skyrocket making any development (say a 30 story high rise that should have made some economical condos available) too expensive for the general public. It feels like a self-reinforcing downward spiral (or upward, depending on where you sit).
- drzaiusapelord 11y ago>Is the city unable to build more housing? Jobs tend to concentrate in urban centers. Building 1 or 2 hours out is a shitty commute and frankly a shitty solution.
- x5n1 11y agoThey should actually do that for foreigners. Ban the foreigners from buying except in certain regions a few hours away from the city made just for foreign property investment. You end up with best of both worlds.