Quote:
Originally Posted by kr4l
I'm sure if they can afford a 5 million dollar house, they could care less about a 15% tax. Once you get to a certain level where you can afford a multimillion dollar home, it really does become just a price to play.
I honestly do not trust anything the government spews so whatever they do, it's only to deepen there pockets, not help the people.
The government banning foreign investment would be the dumbest move ever for the economy. The Chinese are the ones spending crazy amounts of money and keeping afloat many small businesses in the city. Next time you guys go eat at some popular place, notice the ratio between Asian (Mandarin speeaking) to everyone else. It's astonishing the amount of money they spend
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So all the Chinese people that live here are foreign investors now? Small businesses make money from the people that live in the community, these millionaires aren't the people keeping that hole in the wall restaurant afloat. If anything it's hurting small business when they buy a place and leave it empty the majority of the year.
And once again, rich people will care about 15% especially the more expensive the house gets. Saying they don't care about an extra 800k that only they have to pay is ridiculous.