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jimtan
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Did The Vancouver Foreign Buyers Tax Work?

Thu Oct 12, 2017 6:15 pm

"Did The Vancouver Foreign Buyers Tax Work?


... Further, detached house flipping has been nearly cut in half. In 2016, Vancouver detached houses being flipped within one year made up 4.46% of sales, and reached 8.1% over a two year window. It has since dropped to 2.29% and 5.7% respectively...."

http://vancitycondoguide.com/did-the-va ... -tax-work/
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VW-DET list sold.jpg
VW-DET list sold.jpg (42.28 KiB) Viewed 447 times
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VE-DET list sold.jpg (42.28 KiB) Viewed 447 times
RI-DET list sold.jpg
RI-DET list sold.jpg (42.03 KiB) Viewed 447 times
 
eyesthebye2
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Re: Did The Vancouver Foreign Buyers Tax Work?

Thu Oct 12, 2017 10:46 pm

What does flipping have to do with a foreign buyers tax? I know plenty of locals who buy and sell houses as their primary source of income...theyre not taxed under this program.
 
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thompson2
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Re: Did The Vancouver Foreign Buyers Tax Work?

Fri Oct 13, 2017 10:39 am

Yeah, what does flipping has to do with the foreign tax? You are barking on a wrong tree as usual.. Did the foreign tax work? Yes, partially, especially for the high end, but what will bring down the whole market? If there is any, it will be interest rate.
 
yzfr1
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Re: Did The Vancouver Foreign Buyers Tax Work?

Sun Oct 15, 2017 6:40 am

http://www.macleans.ca/opinion/why-the- ... nt=opinion


“In short, Vancouver is largely right back to where it was before the tax.

The obvious question, then, is: why?

Any drop-off in demand from foreign investors, perhaps discouraged by the tax, appears to have been filled by domestic buyers.”


Jimtan is the only moron posting those pic he found on regbv but doesn’t understand them. He’s the only one who thinks we have a over supppy of hosing.
 
reallyreal2
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Re: Did The Vancouver Foreign Buyers Tax Work?

Sun Oct 15, 2017 11:33 am

Foreign buyers have learned how to circumvent the tax. Simple as that.
 
jimtan
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Re: Did The Vancouver Foreign Buyers Tax Work?

Sun Oct 15, 2017 11:54 am

Obviously, I touched a nerve among the deniers.

Obviously, some markets have not returned to 'normal'. So, the foreign tax has worked. Any half wit knows that the withdrawal of money from a market will weaken the demand. Check out the charts below.

There are good things in 2018 and 2019. Ottawa is going after the flippers for capital gains. Mayor Sunshine is talking about Locals First in the presale market. Many ways to dampen the speculative fever. Keep your fingers crossed.

As I keep saying, we need to return to sanity in order to  avoid hard left governments. Jean Swanson came in second in the by-election. Take note.
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VW-DET list sold.jpg
VW-DET list sold.jpg (42.28 KiB) Viewed 318 times
VE-DET list sold.jpg
VE-DET list sold.jpg (42.28 KiB) Viewed 318 times
RI-DET list sold.jpg
RI-DET list sold.jpg (42.03 KiB) Viewed 318 times
 
yzfr1
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Re: Did The Vancouver Foreign Buyers Tax Work?

Sun Oct 15, 2017 1:23 pm

reallyreal2 wrote:
Foreign buyers have learned how to circumvent the tax. Simple as that.


I agree with this as well. They moved heaven and earth to get money out of China. A simple 15% buyers tax is nothing to circumvent
 
jimtan
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Joined: Tue Jul 31, 2007 10:59 pm

Re: Did The Vancouver Foreign Buyers Tax Work?

Tue Nov 21, 2017 9:27 pm

Bye Bye

"Foreign buyers overlooking Vancouver, heading to Seattle at 'frenetic' pace"

http://www.cbc.ca/news/canada/british-c ... -1.4398594

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