Quote:
Originally Posted by MillerTime GFG
There is a real problem in Vancouver and Toronto, and something needs to be done. Places going for 100k over list price, with no conditions, and then appraisals coming in lower than purchase price. Buyers then having to cover the difference as the lender lends on the lesser of PP vs appraisal.
The problem with these two markets is a problem for the rest of the country, as the Government tends to implement real estate policy cross Canada, when they really should have more local policies introduced.
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Like a 20% foreign buyer tax?
Or a Vancouver empty homes tax?
Or a BC Speculation tax?
Or banning AirBnb on anything other than your principal residence so people don't buy additional properties for this purpose?