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Originally Posted by Spork
The RE industry sure is out in force getting Post Media to spin out all sorts of sob stories and opinion articles, my god!
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Yeah, it's laughable how fast they were trot out Anne McMullin. Where was the UDI all those years when they were claiming foreign buyers weren't an issue? And Postmedia and its predecessor owners have always been in bed with the BC Libs. Remember their "Believe BC" campaign?
Take this:
Canadians are not rushing en masse to sell their recreational properties in British Columbia yet, but they’ve stopped looking to purchase vacation homes there amid growing fear of the province’s planned speculation tax.
“We haven’t been besieged by people looking to sell,” LandQuest Realty Corp. president Richard Osborne said of the B.C. NDP government’s proposed 2 per cent tax on the value of any unoccupied home in the more populated parts of B.C.
Still, Osborne said out-of-province homebuyers could rush to sell, depending on what the province legislates. The first reaction among his clients has been “fear and uncertainty”, and fewer are shopping...
http://business.financialpost.com/person...ush-to-sell-if-b-c-slaps-speculation-tax
Even if their hysteria were rue, I'm perfectly happy to see recreational prices decline, and make it more affordable for BC buyers.
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