Foreign buyers ban won’t fix housing market – could make it worse, experts say

[Berry Sweet]

Starting Jan 1, 2023 no foreigners will be allowed to purchase a residence in BC. You will also be taxed if you flip a home and sell it.





"....Under the ban, non-citizens, non-permanent residents, and foreign commercial enterprises are blocked from purchasing Canadian homes — with some exceptions for international students and temporary residents. Those who violate the ban will face a $10,000 fine and may have to sell the offending property..."

https://globalnews.ca/news/9386999/fore">https://globalnews.ca/news/9386999/fore ... et-canada/







What you think?



This article is interesting. I was talking to someone today about this situation...they told me they know someone who lives in one of the high rises in Vancouver and the entire building is empty...but that person is the only one living in that building.. the rest of the suites are foreigners as the lights are never on. Imagine that! Coming home to a high rise and you're the only one currently living in it....how awkward

[Herman]

Starting Jan 1, 2023 no foreigners will be allowed to purchase a residence in BC. You will also be taxed if you flip a home and sell it.





"....Under the ban, non-citizens, non-permanent residents, and foreign commercial enterprises are blocked from purchasing Canadian homes — with some exceptions for international students and temporary residents. Those who violate the ban will face a $10,000 fine and may have to sell the offending property..."

https://globalnews.ca/news/9386999/fore">https://globalnews.ca/news/9386999/fore ... et-canada/







What you think?



This article is interesting. I was talking to someone today about this situation...they told me they know someone who lives in one of the high rises in Vancouver and the entire building is empty...but that person is the only one living in that building.. the rest of the suites are foreigners as the lights are never on. Imagine that! Coming home to a high rise and you're the only one currently living in it....how awkward

It sounds good. But, since the Justine-Jagmeet coalition are responsible for it, it has to be bad for working folks.

[Herman]

I read the article. It will not work just like the tax on foreign buyers did not lower house prices. There just aint enough foreign home buyers to make a difference. As ususal, it is Justine pretending like he is taking bold action. He is a wanker.

[DKG]

Starting Jan 1, 2023 no foreigners will be allowed to purchase a residence in BC. You will also be taxed if you flip a home and sell it.





"....Under the ban, non-citizens, non-permanent residents, and foreign commercial enterprises are blocked from purchasing Canadian homes — with some exceptions for international students and temporary residents. Those who violate the ban will face a $10,000 fine and may have to sell the offending property..."

https://globalnews.ca/news/9386999/fore">https://globalnews.ca/news/9386999/fore ... et-canada/







What you think?



This article is interesting. I was talking to someone today about this situation...they told me they know someone who lives in one of the high rises in Vancouver and the entire building is empty...but that person is the only one living in that building.. the rest of the suites are foreigners as the lights are never on. Imagine that! Coming home to a high rise and you're the only one currently living in it....how awkward

It will not affect the supply or the price of housing, especially in your province.