Quote:
Originally Posted by Dagger
I think this is a case of wanting to have your cake and eat it too. Immigrants have the same right as you or I to come to this country and buy a property. Turning around and levying a tax against them for doing so, because it drives up property prices is tremendously unfair, and additionally inefficient with respect to how the market for property should work.
|
The primary purpose of a housing market is to effectively house the citizens of the county of residence. The economic benefit of residential real estate should be a derivative of housing of the resident population. Many countries have passed laws restricting or outright prohibiting what is happening in Canada.
Levying a tax on foreign investment is fair. Restricting the purchase of residential real estate from foreign investment is middling fair. Forcing the cost of a home out of the reach of ordinary Canadian citizens is unfair.