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Proposed class action against B.C. says foreign buyers' tax unconstitutional

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Real Estate Professional | 06 Mar 2017, 04:04 PM Agree 0
A proposed class-action lawsuit says British Columbia's 15-per-cent tax on foreign nationals who buy homes in the Vancouver area is unfairly prejudiced against people from Asia, who have historically faced discrimination in the province
  • | 06 Mar 2017, 04:15 PM Agree 0
    Has the tweak in effect? Still waiting to find out
  • Jimmy Ding | 06 Mar 2017, 04:23 PM Agree 0
    It doesn't apply to only people from Asia. The question is, should any foreigners, Asian or non-, be able to come to Canada with bucketfuls of money (...and a lot of it from questionable sources...) and be able to bid up BC's real estate to the point where people who already live here cannot afford it? Should they have the ability (or the right) to drive my kids out to Abbotsford/Chilliwack/Kelowna to live?
  • Don Johnson | 06 Mar 2017, 04:27 PM Agree 0
    I am astounded that the real estate boards in BC didn't launch action against the province as the Tax is also unconstitutional. The government is stating we want to force the value of real estate down through forcing buyers to pay large tax however effectively they have also taken away the right of the property owner to receive the maximum value for his property by stealing the cream. Owners own the property fee simple which is the highest form of land ownership. Indeed it is protected back to 1215 and the Magna Carta. Why as realtors do we sit back and let government trample all over our clients rights - we need to stand up for our clients rights as we are the only large organization in the country that have a mandate to stand up and protect property rights - If we sell property we sell the buyer a bundle of rights yet when gov/t attacks that bundle and effectively removes the owners rights that is an expropriation of use that that owner is loosing without due compensation which the expropriation act sates government must pay him for. Government imposes significant time and cost roadblocks and barriers to land development and to home builders - the shortage comes from government policy to restrict construction yet flood market with new buyers - then they have audacity to say we are the problem - As realtors we should be ashamed that CREA didn't take the province to the supreme court for a ruling last fall!! With the fees we pay 30$/year should be put into a legal defence fund that challenges governments when they come stealing property rights . Our clients would certainly have a much higher opinion of our professionalism if we did
  • | 06 Mar 2017, 04:49 PM Agree 0
    Well said Don.
  • | 06 Mar 2017, 04:55 PM Agree 0
    Snooze you loose.
  • Sandy Stinson | 06 Mar 2017, 06:48 PM Agree 0
    I am ashamed that the Chinese were targeted. Again. I am also deeply offended that because the government
    Did not like what a few crooked Realtors
    In Vancouver did we all lost our rights
    To self regulate . Now honest hard working Realtors in small towns are not
    Going to be able to practice dual agency
    When it actually 90% of the time is to
    The benefit of the consumer . How else
    Are we able to pull two sides that have
    Put a line in the sand together. I can not
    Tell you how many washers and dryers
    I have purchased for my clients to get them over the hump. Two Realtors often
    Create problems where none need to
    Exist.
  • VIrealtor | 06 Mar 2017, 07:39 PM Agree 0
    Sandy that is pathetic! They are not targeting Chinese THEY TARGET FOREIGN BUYERS. The only reason two realtors create problems is because one is not doing their job! Dual agency should have been quashed a long time ago. I am certain small town realtors will find a way around this - they always have... not answering calls, denying requests for info showings and more, making access difficult to "out of town" realtors. You know it's done all the time. Now you'll (and I say "you'll" encompassing all small town realtors). Having to pick up keys at a realtor office is another one! Get lockboxes! We have to have them everywhere else! Ever tried to show on Gabriola? Thetis realtor at least unlocks houses in advance but she considers it HER ISLAND!... after all how many robberies can happen on one of those islands? This INDUSTRY (like many) is corrupt... not just in Vancouver!
  • | 06 Mar 2017, 08:09 PM Agree 0
    So true. On that most people in BC look at Asians and automatically think all Asians are loaded with cash. Even when we work hard for the money we are put in a different class like money grows on Chinese trees or something.
  • | 06 Mar 2017, 08:14 PM Agree 0
    We promote equal rights and equal opportunity. It's. it just the foreign buyers that are driving up prices. The locals are doing the same thing right no as we speak. Multiple offers on condos everyday. 5 to 20 offers. Making people think the prices are going way up. People should. It write offer when they don't even have a shoot at it. It only help to make the prices go up even higher. Plus it's the demand of housing. It's not the foreign buyers
  • Realtor Eiltes. | 06 Mar 2017, 08:23 PM Agree 0
    This government is not really helping housing prices. There is way too much demand here and not enough housing. That's why the prices keep going up. You can not suppress the needs of the people this is just to get the votes of the people. When seller sell where do they go?they still need to live some where. More and more people are moving here that's the fact. There is a demand shortage for a long time. Solve that problem tha. The prices will fix itself. Everyone is thinking price how it is driven up. Where is the price if there is no demand?this place will be like New York, Hong Kong where you want to live here you have to pay.
  • Mike | 07 Mar 2017, 07:45 AM Agree 0
    I completely agree with your point that dual agency makes a lot of deals go together but you lost me on your horrendous use of random capitals and incoherent sentance structure.
  • ontario realtor | 07 Mar 2017, 10:24 AM Agree 0
    I just think it is a shame that a Vancouver B. C. Professional young family who work hard to raise their kids and pay their 'very high' rent and want to realize the dream of home ownership but the market prices are out of reach for them. It seems to me that the young professional family should have a chance of buying a home and that non residents should not be able to come and ruin that dream. They definitely are raising the home prices and they do have lots of cash. These people should pay high non resident taxes as well as they only are dwelling in their real estate for a short time and, therefore, are not contributing to the economy of this province in any way other than taxes. You need owners who are grocery shopping, going to a movie, using local restaurants and shops, etc. Your city cannot survive without this economic support. In my opinion, sometime in the near future there will be a massive closure of shops, etc. that hire low income workers as they cannot afford the rents let alone buy a home and they will have to leave the city.
  • ontariorealtor | 07 Mar 2017, 10:25 AM Agree 0
    I just think it is a shame that a Vancouver B. C. Professional young family who work hard to raise their kids and pay their 'very high' rent and want to realize the dream of home ownership but the market prices are out of reach for them. It seems to me that the young professional family should have a chance of buying a home and that non residents should not be able to come and ruin that dream. They definitely are raising the home prices and they do have lots of cash. These people should pay high non resident taxes as well as they only are dwelling in their real estate for a short time and, therefore, are not contributing to the economy of this province in any way other than taxes. You need owners who are grocery shopping, going to a movie, using local restaurants and shops, etc. Your city cannot survive without this economic support. In my opinion, sometime in the near future there will be a massive closure of shops, etc. that hire low income workers as they cannot afford the rents let alone buy a home and they will have to leave the city.
  • | 07 Mar 2017, 11:37 AM Agree 0
    True...take a global look at price and laws relating to taxes here's do it is still one of the best option all around the world. Is that not one of the reasons we all mo Ed here. We have it all.
  • | 07 Mar 2017, 12:28 PM Agree 0
    Tax sure seems to go against the rules of free and fair trade that only hurts Canadian citizens. Unbelievable a government may implement a law that is actually illegal. Maybe we should come up with a law to prevent citizens from owning more than one piece of real estate too. Or whatever else we can have to suppress our rights.
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