- Joined
- Aug 2, 2015
- Messages
- 93
Hi members
Here is an article detailing the new tax that will be implanted August 2nd in the metro Vancouver area for foreigners purchasing property
https://www.google.ca/amp/business....ey-to-other-parts-of-canada/amp?client=safari
I have been hearing mixed conclusions of what people predict will happen to the housing market just curious what peoples thoughts are?
Some people are saying that foreigners are such a small percentage of the buyers that it will not have a drastic effect on the price of housing however in my opinion I see that foreigners are the reason why housing prices have gone up exponentially because they are more willing to place multiple offers higher than locals
This type of tax has been implemented in places like Hong Kong and Singapore for where housing prices have come down about 5 to 10% over one year.
Do you think that Vancouver will have a correction? If so why? if not why? and how much of a correction do you think it would have?
Here is an article detailing the new tax that will be implanted August 2nd in the metro Vancouver area for foreigners purchasing property
https://www.google.ca/amp/business....ey-to-other-parts-of-canada/amp?client=safari
I have been hearing mixed conclusions of what people predict will happen to the housing market just curious what peoples thoughts are?
Some people are saying that foreigners are such a small percentage of the buyers that it will not have a drastic effect on the price of housing however in my opinion I see that foreigners are the reason why housing prices have gone up exponentially because they are more willing to place multiple offers higher than locals
This type of tax has been implemented in places like Hong Kong and Singapore for where housing prices have come down about 5 to 10% over one year.
Do you think that Vancouver will have a correction? If so why? if not why? and how much of a correction do you think it would have?