Frankly, the amount of the tax is so tiny, it makes me believe that there is something else afoot. It won't make any difference at all to the dozen or so billi

Frankly, the amount of the tax is so tiny, it makes me believe that there is something else afoot. It won't make any difference at all to the dozen or so billionaires who are looking to buy their Nth house in Vancouver. But it has devastated the detached housing market below $5 million here and that will ultimately put pressure on condos and townhouses. I think the only reason it's working is that TO and Seattle don't have a similar tax; Vancouver has made itself less attractive, but only marginally so.