Nothing in there was news to me but well written for those not familiar with this quagmire. I hope to see Christie Clark in handcuffs one day but I’m not holding my breath.
Meanwhile if my parents weren’t in this city I’d be long gone. I used to love this city but it’s truly a **** hole now.
It seems politicians are untouchable when it comes to profiting from their position.
I was interested in the comments about shell companies buying real estate for foreign ownership; I never did think the 10 %+/- bandied about at various times could have that much of an effect on the housing prices, it makes more sense if it's much higher so hidden foreign ownership seems more possible. Still, the majority of the real estate market are not foreigners, so why are locals supporting ever-increasing prices? I think the biggest issue is the speculative aspect of buying real estate, whether one is local or foreign.
Also, I have to agree the 15% foreign buyers tax was a joke. If one is buying or selling million+ dollar properties, $15,000 is merely negotiation. I think the empty homes tax has a better chance of success in moderating the real estate market, because it's annual and not a one-off payment.
Home
Contact
Login
Register