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One of the most beautiful times of year here on the west coast, spring has traditionally been a season that ushers new homebuyers into the Vancouver real-estate market. Whether you're new to Canada or making the leap to home ownership for the first time this season, here are some considerations.
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The entire economy - including government revenues and thereby the services offered by these governments - depends on wild property speculation. And everyone is praying that it can somehow be maintained.
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The most basic economic principle is, when there is a rise in demand, the invisible force of supply will kick in, and this is how economic growth is generated. For those who want to blame the housing crisis on immigrants, let's think about how our economy would look like if B.C. or Canada did not have the intake and growth brought by immigrants.
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As house prices grow higher, questions about foreign buyers' role grow louder.
Lax ownership reporting rules are making property a magnet for money laundering.
Frank Wu said Chinese investors have told him that the tax is discouraging them from buying property in the city.
"It's fair to say we may have had an impact."
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"They're not going to come down that much.''
A petition is calling for restrictions on overseas investors.