Going back to the 5%, it's probably important to note where that 5% has that money parked. On the higher end of the scale property. That 5% is a large portion of the backbone of Vancouver real estate.
A One-Point Plan to tackle Vancouver?s housing affordability crisis: kill Quebec?s millionaire migration scam | South China Morning Post
A very interesting article on the QIIP. Basically the selling out of affordability by the government.
Feds won't dare go up against Quebec. And really why would they harm that golden goose? Trudeau's plan doesn't address this issue. In fact I don't see how Trudeau's plan addresses affordability as a whole at all.
I think the issue is common in many of the hot spots. Same policies, different names. LA, NY, SF, TO..