3 ms·
> when in fact prices has rebounded well beyond the previous peak. Feb 2017: "The average resale price in Greater Vancouver was $878,242 in January, down 18.9
by kareemm 9y ago
> when in fact prices has rebounded well beyond the previous peak.
Feb 2017: "The average resale price in Greater Vancouver was $878,242 in January, down 18.9 per cent from a year earlier, when it stood at $1.038 million, according to numbers from the Canadian Real Estate Association."
Source: http://www.huffingtonpost.ca/2017/02/15/vancouver-average-house-price-january-2017_n_14775268.html http://www.huffingtonpost.ca/2017/02/15/vancouver-average-ho...
- Jack000 9y agoThe problem with talking about housing prices in Vancouver is that it's a heavily politicized issue with all sides pushing an agenda. this article specifically compares jan 2016 to jan 2017 in order to push the narrative the tax worked, but you could easily find a more recent article that says the opposite: http://www.news1130.com/2017/04/18/despite-price-drop-housing-market-royal-lepage/ http://www.news1130.com/2017/04/18/despite-price-drop-housin... which better matches my anecdotal experience in house shopping in the last month.
- kareemm 9y agoI'm not sure if you've read Gordon's work, but he actually advocates a surtax based on whether an owner's worldwide income is filed in Canada rather than an n% tax on foreign owners at purchase. There are more effective ways to cool the market and he's well aware of them. I suspect if you sat him down for coffee he'd tell you that the BC Liberals wanted to be able to point to a measure to say they were doing something to slow the market, while being fairly confident the market wouldn't slow down that much at all.