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When British Columbia brought in its 15% Foreign Buyer tax (later raised further) it was at the end of a long campaign by activists to simply collect data on fo
by Tiktaalik 5y ago
When British Columbia brought in its 15% Foreign Buyer tax (later raised further) it was at the end of a long campaign by activists to simply collect data on foreign buying.
The government shared this data as they were collecting it, and it was only a few weeks before they were so shocked by some of the buying trends that they brought in the tax. In certain municipalities, foreign buying was approaching 20%.
So all that experience has me wondering, why hasn't the Feds shared their data? Where is the troubling foreign buying trend?
The fact that they haven't done this makes me feel like maybe there is no foreign buying, that BC and Ontario's taxes have pretty much done the job, and that this is a disingenuous attempt to make it appear that they're doing something relevant around housing, while still fundamentally maintaining the status quo approach that has been ineffective for years and years.