Quote:
Originally Posted by fredinno
So we should just give up on climate change, as we should to clamp down on an obvious RE bubble? The fact that sales have been falling in correlation shows it's not token.
How can you tell that, though? Also, let me get this straight- are you saying that if that money comes from selling drugs to other cities, that's ok? 
That existed long before those RE taxes. Like the Carbon Tax. And Tobacco Tax. Really, even the income tax can be used to control something arbitrarily, like the 'wealth gap'.
My POV is that none of this would even be necessary if interest rates weren't as low as they were for as long as they were. That's a problem by a government-owned entity BC has no jurisdiction over. |
In the end though none of this is unique to Vancouver. The whole country has had low interest rates, money laundering, etc. What is unique to Vancouver? Left wing demand focused policies and ultra high development fees. I know that correlation is not causation but the left wing Vision/NDP municipal governance was in charge for over a decade (since 2008) and during that time Vancouver home prices skyrocketed past most other Canadian cities. I still remember when Seattle and Vancouver both had the same problems and they choose opposite solutions.
We complain that Vancouver is less affordable than most cities, well what are we doing different than most cities? We keep blaming different outside forces but in reality its inside forces that are hurting us.
Give a nice 2-3 years for land use policies to take effect and....:
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