3 ms·
Some great points here for sure. I forgot to mention in my post that not only is the government in bed with the real estate industry (new rumors that the bigge
by lpaone 10y ago
Some great points here for sure.
I forgot to mention in my post that not only is the government in bed with the real estate industry (new rumors that the biggest real estate marketer in the city was notified weeks in advance about the new foreign buyer tax), but that they also "unexpectedly" took in 50% more than forecast, to the toon of $500+ million, in extra property transfer tax last year. Good luck getting them to slow down that gravy train.
- Gustomaximus 10y agoThe gravy train doesn't have to stop. With a non-owner tax they ride a new gravy train. And the biggest complainers will be non-voting foreigners that dont matter and the foreign governments like China will hardly care exiting money is being punished, so bonus. It will be tough for those that bough at the peak, but it seems those will be the minority to the almost 50% of the population in my town that cant afford a home in their own city. That said the 'loudest' voices will be the uber wealthy with large property holdings so again...good luck...