Quote:
Originally Posted by noclue
Rant about foreign buyers but try raising the interest rate to 5% overnight and you'll see more of a hit to real estate than implementing some foreigner tax.
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Won't raising interest rates hit our local buyers more than foreign buyers? If you can't afford a million dollar place with our low interest rate, what makes you think you can afford it at half the price with double or triple the interest rate?
A way to fix the problem is what westopher suggested, tax investments and vacant homes hard. However, locals that worked hard and made smart investments wouldn't like that very much