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What's the reason for this? Is it because it's bad for real estate in a living city to be used as an investment vehicle?
by adaml_623 10y ago
What's the reason for this?
Is it because it's bad for real estate in a living city to be used as an investment vehicle?
- zdkl 10y ago...as the article states... Foreign investors drive up costs for locals. Locals unhappy, add tax for foreign investors. Foreign investors potentially wronged because of various agreements Canada has joined limiting protectionist actions like these. Or read the article, that'll answer your question.
- bluedino 10y agoIt's free money, and it looks really good as protecting local interests. A Chinese or Russian millionaire looking to buy property in Vancouver is going to buy whether it's $5 million or $5.75 million
- newacct23 10y ago>A Chinese or Russian millionaire looking to buy property in Vancouver is going to buy whether it's $5 million or $5.75 million I don't know why you believe this to be true but it isnt
- ZeroGravitas 10y agoProperty ownership is often subsidized, maybe they feel this is just rebalancing the subsidy for the people they don't want to subsidize? (Just a guess, I don't actually know)