Quote:
Originally Posted by Leondros
If they are serious about housing pricing for Vancouverites, yes, its the right move.
The fallout of this could be terrible for the government. The ease of introducing a foreign tax is that it was an easy sell. A simple us versus them, protecting domestic interests and quality of life.
This however, is going to be far harder to sell. It will impact many people who have chosen to purchase a second home for the purpose of generating rental income. I know the percentage who use airbnb or other short term vacation rental services is likely small, but this will still have an impact on Canadian's finances.
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Purchasing a second home for rental income in this market is just about the most bone-headed thing someone could do. The fact that they knew they were breaking municipal by-laws to make a tiny chunk of change, and exposing themselves to further risk in the market is their own fault.
This is a good thing.