July 29, 2016

B.C. Will End Up Paying For Christy Clark's Foreign Investor Tax

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It was a bleak time for the Vancouver middle class. Money was pouring into the red hot housing market from Asian investors and pricing everyday people out of the market. The premier heard their cries. Flashing a trademark grin, the premier announced a major tax increase. There's no tax quite as popular as a tax on someone else. But will the people still be on board once the bills come in for collecting the Vancouver vacancy tax, or when the foreign investment tax has to morph to catch the money coming into the country? Or if housing prices are unaffected? Or if housing prices plunge and Canadian homeowners owe more than their home is worth?

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