Orange-Julius-ish I suppose, but the source is solid...
Friend of mine (realtor in Calgary) ran into her broker friend in Vancouver, who said 60/130 deals in his office have decided to walk since the new implementation of the 15% tax. The BC gov't didn't set a date (much like CMHC did with the new down payment rule), and made the tax retroactive.
Imagine you bought a new house because you had a firm deal on the sale of your previous home, and now that buyer has decided to walk? Assuming you have a mortgage on the new place, chances are it's going to be conditioned to the sale of your previous home. Just a mind-numbing implementation of this rule, which is pretty standard for all BC Government real estate related affairs.
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