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Retiring couple forced to sell in a cooler market with new B.C. tax

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Ephraim Vecina | 10 Aug 2016, 08:15 AM Agree 0
Long-time Surrey resident argues that the new foreign buyer’s tax does not address the fundamental problem of supply shortage in Vancouver
  • Steve | 10 Aug 2016, 10:39 AM Agree 0
    This person has a lot of nerve to be angry with the provincial government that is trying to solve a problem not of their own making. The root of the problem in Vancouver are mainland Chinese nationals funneling illegal money from corruption probes and hiding it in Canadian real estate. Was the buyer who backed out of their deal non-Chinese?? This is the cause of outrageous real estate prices in Vancouver and Toronto.
  • Smartiepants. | 10 Aug 2016, 11:25 AM Agree 0
    20 percent correction on Vancouver prices in the work. Stop your whining sell for less and downsize for less also. Get a better Realtor.
  • Don. | 10 Aug 2016, 12:04 PM Agree 0
    With 1.5Mil ( your net sales price.) you could buy a palace and retire like a king on Vancouver Island. Get out while you still can.
  • | 10 Aug 2016, 04:36 PM Agree 0
    I'm sure the value of their home has increased exorbitantly in the last year since prices have escalated 40% in some areas of Vancouver. Yes, they may have to take less but as someone already mentioned they will be buying their new home for less as well. The market needed slow down in Vancouver and hopefully the new tax will do that. Frankly, I don't think the 15% Tax was enough, off shore buyers should be taxed at 50% to avoid speculation which creates a false market.
  • Al | 11 Aug 2016, 02:44 AM Agree 0
    The original reply is pure stupidity. How does clairvoyant Steve know that the mainland Chinese are the buyers and even more so that they are using illegal , ill got money. What a stretch and pure bunk.

    The Prov Govt's attempt at 'bringing down the house prices' has and is hurting a lot of people. Buyers and sellers and even businessmen and a lot of other people who want to buy property in a free market environment.

    I hope many people will SUE the Prov Govt related to NAFTA and any other means possible.

    I firmly believe that what they have done will not accomplish an opportunity for first time home buyers to get into this market. Its all supply and demand. We only have so much real estate and homes for sale in the lower mainland.
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