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Why Vancouver’s housing crackdown could be good for NYC

Why Vancouver’s housing crackdown could be good for NYC

British Columbia’s government is doubling down on its bid to lower Vancouver housing prices by curbing foreign demand, which could drive wealthy Chinese home buyers to other markets. As of Wednesday, the special tax foreigners pay when they buy a home in the province’s largest city will increase from 15 to 20 percent, Bloomberg reported. The provincial government is also expanding the tax to other cities, such as Victoria, and adding a 2 percent tax […]


Source: realdeal

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