Quote:
Originally Posted by Mr.HappySilp
I always support some kind of restriction. Such as from singapore. Only citizen can purchase housing. Or have applications to allow international to purchase say no more than 5% of the total real estate being sold last year. That leaves local with a much much higher chance to purchase since housing price will be as high as it is now (mainly because the market will be much more quiet.) Also to stop the loophole the gov can even place heavy property tax, more GST on house purchase when you own more than one property. This will prevent someone who is not a citizen of Canada to get their relatives to purchase property for them.
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From what I heard the "foreigners" that buy up the most properties in BC are Albertans who are Canadians thus not restricted so it won't mitigate housing that much.
I believe in terms of who buys the most its:
1. Alberta
2. Americans
3. Chinese
4. Rest+