British Columbia Premier Christy Clark says the province is taking away the real estate industry’s ability to regulate itself. Wednesday’s announcement came a day after an independent panel appointed to review the industry released a report that made 28 recommendations aimed at toughening up rules for agents and protecting consumers. However, Ms. Clark said the Real
The deputy chief economist at one of Canada’s largest banks is calling for the taxation of foreign real estate speculators, saying it’s the best way to cool down Vancouver’s red-hot market without causing a collapse. CIBC’s Benjamin Tal cautioned against stopping foreign investment entirely, saying it’s only one of the drivers of high prices. Click
Mayor Gregor Robertson has announced Vancouver will move forward on taxing empty homes as the affordability crisis grows larger and rental vacancy rates shrink to unprecedented lows. “Vancouver housing is first and foremost for homes, not a commodity to make money with,” he said. “We need a tax on empty homes to encourage the best use
