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NDP demand probe of real estate agent's knowledge of B.C. foreign property tax

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Real Estate Professional | 03 Aug 2016, 09:00 AM Agree 0
British Columbia's New Democrat housing critic is calling for an investigation into whether a prominent Vancouver real estate agent and B.C. Liberal government insider had advance knowledge of a controversial new tax on foreign property buyers
  • None | 03 Aug 2016, 10:31 AM Agree 0
    Knowledge is power
  • | 04 Aug 2016, 09:12 AM Agree 0
    Wow I never thought I would see the day when a free enterprise party would use Government intervention to mess with the Real Estate market place. First they passed a rule that anyone buying a property and then flipping it had to give the profit that they made in the flip back to the original seller. I am sure that one is going to get challenged in court and B.C. government is going to have repeal it. Second they are trying to take the self regulation that the industry has been governed under for many many years and have a government agency who knows nothing about how realtors are governed to patrol it. Part of these new regulations that they are looking act includes trying to Prohibit the realtor that the public hires to sell their homes, the ability to go out and find a buyer and sell their own listing. In other words not allowing to Listing realtor to do exactly what the seller has hired them to do. The last act the in the B.C. governments eternal wisdom bag of tricks is to impose a 15 per cent foreign buyer tax in the greater Vancouver area to all buyers who are not Canadian. What our Government friends fail l to realize is that Real Estate Markets as do other industries all run on the same principal of supply and demand and that given the time they self adjust. Shame on both the B.C. Liberal party and the B.C. NDP for being reactionary and not pro actionary to this issue.
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