Cost of Doing Business in Vancouver Real Estate Markets

One week after British Columbians voted to change their government of 16 years Vancouver real estate markets are back in full swing.

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As of the middle of May 2017 the 15% ‘foreign home buyers tax’ introduced in Vancouver in August 2016 and about nine months later in Toronto will not have the intended effect of cooling real estate prices. One week after British Columbians voted to change the government they have supported for 16 years Bloomberg reports Vancouver markets are back in full swing. Toronto’s can be expected to follow after a brief sojourn to readjust strategies. The culprit appears to remain China. Excess capital made there in a non-democratic command economy leaks out to western markets in search of safe haven. The proposition arises, “If Chinese people can buy real estate in Canada, then why can’t Canadians buy real estate in China?” The imbalance promises to dog international relations until such time as western governments act to discourage using housing as a commodity chip in investment portfolios.

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