Quote:
Originally Posted by THE SCUD
I agree, and that's why I am a propagation of something like a 100% property tax on these people - if they really need/want the place, they can pay huge for it. If they don't actually need it, they'll likely bugger off somewhere else to inflate property values at the expense of residents of that area.  |
If you assume that foreign ownership drove costs 10% higher (random number) then you are proposing a rule change that will drop the value of Vancouver area homes by the same 10%. The current homeowners of Vancouver would react to something like that the way Albertans reacted to the NEP.