sident citizens, fully invested heart, mind and financially, are the core support group for any community, city, province or country. They stay through thick and thin, and on them rests the costs of mistakes of policy and every other twist of fortune or fate. Their children and grandchildren will carry the problems they leave behind.
Everyone else is a guest, given temporary access to our resources, services and housing, and our good will. They are either a good guest that pays their tab, and doesn't leave a mess behind, or one that runs off with the family silver after having wrecked the place. We innkeepers need and love good guests, of any origin, but why would we want to host anyone but good guests?
Isn't it time for us all to stop looking for quick and easy solutions to our debt problems that will inevitably incur great costs down the road and invite in only 'good money' and guests. Young working families to fill jobs as seniors retire, caregivers for seniors and children, guests that will likely stay and become a full member of our core support group.
M - 7 years ago
There was a paper published in July 2017 that applied a model to the New York City and Vancouver markers to ascertain how the 'Out of Town Buyers' impact a city's livability. The paper is called 'Out-of-Town Home Buyers and City Welfare' and it is written by Jack Y Favilukis and Stijn Van Nieuwerburgh. Their conclusion was that if properties are left vacant then it impacts the local residents in multiple ways such as longer commuting times, changing the dynamics of a local community, reducing revenue to local businesses, pushing up rents and house prices. However, if a tax is imposed on the the out of town purchasers then it can offset the negative impacts if the money is fed back to the local community. So, why would people living in Vancouver not want to review the tax on a regular basis to ensure the local communities here are healthy and thriving?
Harald - 7 years ago
Yes, and get rid of it. The only people it's hurting are people who have Chinese only buyers. Anyone who says that isn't true is lying...this tax was aimed solely at Chinese buyers, and has to be the most racist, regressive tax ever implemented. The high prices on everything else are caused solely by us...WE are the ones driving the costs up, NOT foreigners.
Kitkat - 7 years ago
It has been shown recently by mainstream media in both Toronto and Vancouver that foreign buyers account for less than 5% of purchasing in both cities. This specific tax is simply smoke and mirrors, an attempt by big Canadian banks and government to conceal that low interest rates and massive lending keeps Canadas economy rolling.
Matthew - 7 years ago
The tax should be reviewed, and possibly increased in Vancouver. It should be applied to other areas of the GVR and Vancouver Island that are seeing prices increase unreasonably. IE. Victoria, Nanaimo, North Van, Coquitlam
Steve - 7 years ago
Tax should be increased. Foreign buyers have destroyed local buyers ability to purchase homes affordably.
Jim McLeod - 7 years ago
Yes, and the tax should be increased. The market here is no longer tied to people who live here. When housing is treated like a stock investment, the locals are left out in the cold. Quite literally.
Alex N - 7 years ago
Yes! Revise and close all holes that so called "foreign investors" use to park their money here and avoid to pay any taxes (no more free parking in Canada!). Federal government should be working on this and protect Canada as whole.
John pooghkay - 7 years ago
Cont: cant afford to even get in the market or worst yet can't find a place to rent. Its very sad we are selling out to the highest bidder at any cost
John pooghkay - 7 years ago
Yes they should revise by stoping foreign buyers fromdoging the tax by starting up a company and avoiding the tax. That is evading tax. And the thing is it is getting very unafordable for Canadians to buy no matter where you come from. Alot of foreign buyers are buying and using our social systems and hide assets and don't want to pay taxes. Also try to avoid taxes why do we want people like that. Our Country was built of immigrants from all ethnic groups that live and work and pay taxes like law abiding citizens. I think we shoul charge 30 percent to them and stop the loop holes they can use to void the taxes. Because all of us as Canadians can't compete with the dirty money that is coming in here. Im not saying it all dirty but alot of it is. What are young canadian well educated Canadians going to do if they go to school and get a good education and then get a good job paying job but still can't aff
sident citizens, fully invested heart, mind and financially, are the core support group for any community, city, province or country. They stay through thick and thin, and on them rests the costs of mistakes of policy and every other twist of fortune or fate. Their children and grandchildren will carry the problems they leave behind.
Everyone else is a guest, given temporary access to our resources, services and housing, and our good will. They are either a good guest that pays their tab, and doesn't leave a mess behind, or one that runs off with the family silver after having wrecked the place. We innkeepers need and love good guests, of any origin, but why would we want to host anyone but good guests?
Isn't it time for us all to stop looking for quick and easy solutions to our debt problems that will inevitably incur great costs down the road and invite in only 'good money' and guests. Young working families to fill jobs as seniors retire, caregivers for seniors and children, guests that will likely stay and become a full member of our core support group.
There was a paper published in July 2017 that applied a model to the New York City and Vancouver markers to ascertain how the 'Out of Town Buyers' impact a city's livability. The paper is called 'Out-of-Town Home Buyers and City Welfare' and it is written by Jack Y Favilukis and Stijn Van Nieuwerburgh. Their conclusion was that if properties are left vacant then it impacts the local residents in multiple ways such as longer commuting times, changing the dynamics of a local community, reducing revenue to local businesses, pushing up rents and house prices. However, if a tax is imposed on the the out of town purchasers then it can offset the negative impacts if the money is fed back to the local community. So, why would people living in Vancouver not want to review the tax on a regular basis to ensure the local communities here are healthy and thriving?
Yes, and get rid of it. The only people it's hurting are people who have Chinese only buyers. Anyone who says that isn't true is lying...this tax was aimed solely at Chinese buyers, and has to be the most racist, regressive tax ever implemented. The high prices on everything else are caused solely by us...WE are the ones driving the costs up, NOT foreigners.
It has been shown recently by mainstream media in both Toronto and Vancouver that foreign buyers account for less than 5% of purchasing in both cities. This specific tax is simply smoke and mirrors, an attempt by big Canadian banks and government to conceal that low interest rates and massive lending keeps Canadas economy rolling.
The tax should be reviewed, and possibly increased in Vancouver. It should be applied to other areas of the GVR and Vancouver Island that are seeing prices increase unreasonably. IE. Victoria, Nanaimo, North Van, Coquitlam
Tax should be increased. Foreign buyers have destroyed local buyers ability to purchase homes affordably.
Yes, and the tax should be increased. The market here is no longer tied to people who live here. When housing is treated like a stock investment, the locals are left out in the cold. Quite literally.
Yes! Revise and close all holes that so called "foreign investors" use to park their money here and avoid to pay any taxes (no more free parking in Canada!). Federal government should be working on this and protect Canada as whole.
Cont: cant afford to even get in the market or worst yet can't find a place to rent. Its very sad we are selling out to the highest bidder at any cost
Yes they should revise by stoping foreign buyers fromdoging the tax by starting up a company and avoiding the tax. That is evading tax. And the thing is it is getting very unafordable for Canadians to buy no matter where you come from. Alot of foreign buyers are buying and using our social systems and hide assets and don't want to pay taxes. Also try to avoid taxes why do we want people like that. Our Country was built of immigrants from all ethnic groups that live and work and pay taxes like law abiding citizens. I think we shoul charge 30 percent to them and stop the loop holes they can use to void the taxes. Because all of us as Canadians can't compete with the dirty money that is coming in here. Im not saying it all dirty but alot of it is. What are young canadian well educated Canadians going to do if they go to school and get a good education and then get a good job paying job but still can't aff