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.
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We have a very distorted market in Canada (and big parts of the world) with respect to real estate.
Taxation on foreign investment is the least of our worries in terms of government intervention in the markets.
Let interest rates float, and get rid of the CMHC and force lenders to take on the entirety of mortgage risk....and then you would start to see a functioning market.