you should be happy anyone wants to spend their riches here. most countries would kill for that. we are the envy of the world.The foreign purchaser tax is better. Now they can pay property taxes, transfer tax and foreign purchaser tax. Next is CRA coming after their worldwide income and insisting on those taxes - this is great! If they don't like it, they can buy elsewhere .... Don't let the proverbial door hit you on the way outthat's where people with your opinion are wrong.Yes - owning a home is a privilege. Why is it reserved for those who have money? Many that are driving up home prices are not buying a home but rather a parking spot for their money. If they are not contributing to the local community, tax them.
Those who are gaming the system for their benefit are now crying because the system gamed them. Hypocrisy at its finest.
The property tax paid on these homes ANNUALLY is more than all taxes most people pay in all forms for the entire year (income and sales tax). There are way too many entitled whiners out there.
money made outside of canada never existed here in the first place. it was not made here.
foreign money is new money. foreign money makes canada great. the culture makes our city international and interesting.
bottom line is government knows that they gave up on complacent locals for decades.
time for a spark and that is the industrious creative foreigners. spending money, valuing property ownership, family and education
canada has an abundance of land. our leader know that. they are capitalizing and not shy about it. land property ownership is one of our most important industries if not the most important