Should we tax foreign home buyers to cool the market?

Question

There is a proposal to tax foreign home buyers by 15%, similar to what British Columbia did this summer.  Should we do the same thing here in Toronto?  This way it might cool the market and allow Canadians to get first crack at home ownership that is becoming out of reach for many.

Answer 1

Seems like this questions has been answered 26% drop in Vancouver market from last month and now. No way Ontario is going to bring in this tax to kill the economy.  Bubble is getting bigger, get in the game before it bursts.

Here's the link to the CBC article.

http://www.cbc.ca/news/business/toronto-foreign-buyers-tax-lobby-1.3775779

Answer 2

More than one month after the British Columbia put into consequence a similar tax, Ontario has made no talk about on what exploit it will take to cool the red hot Toronto accommodation market. Midnight Essays service

Comments

It makes Vancouver much less nice-looking if not absolute off the radar screens of overseas buyers. Read it more: http://www.seekclip.com/