Quote:
Originally Posted by Locke
I think most people are disillusioned because it doesnt solve the right problem.
Great, they're taxing these people and lining their coffers, but that doesnt solve the affordable living situation.
I dont think people are upset that a whole bunch of Chinese and Indians and coming in and buying properties in BC, they're upset because this drives the prices up and the availability down and these people arent even living there so the people who are living there either cant find anything or cant afford what they can find.
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The problem is actually pretty simple (so it seems), locals are being priced out of homes that in most other parts of Canada they would be able to afford.
Any policy fixes, from the demand or supply side will take time before their affects can be felt. Furthermore, nobody is even sure to what extent these changes will actually affect vancouver's real estate prices, if at all.
For now, I applaud the BC govt for taking a step in the right direction. Obviously they can't stop here, there must be further measures taken after we see how the market reacts to these taxes.