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Even if the tax has a limited impact at the margins in terms of luxury buyers who think strictly in terms of dollars and cents, the chill it may send through the market may have a greater impact.
The fact that people whined the government into doing something, instead of voting with their wallets and feet, means that there's enough people who want to stay and buy here. It'll be interesting to see what happens to the market from here over the next 12 months.
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