The cost of regulatory delay imposed upon LNG investments in B.C. could reach C$24.8 billion per year by 2025.
christy clark
Demand-side forces are still at play regardless of the new tax on foreign buyers.
Some B.C. government policies are at odds with ambitions to grow the province’s tech sector.
This tax will add roughly $140,000 to a typical Greater Vancouver real estate transaction.
With or without foreign buyers, there’s strong demand for housing in the region.
If new housing supply can adequately respond to spillovers in demand, there’s no reason for bidding wars in middle-class neighbourhoods.
In B.C., the vast majority of minimum wage workers live with their parents or other relatives.
In light of public outcry, the B.C. government has tasked a committee to examine real estate practices such as flipping and shadow assignment.
Budget contained no plan to offset the dramatic increase in business taxes associated with reintroducing the Provincial Sales Tax a few years ago.