skip to Main Content

Higher taxes no solution to Vancouver’s real estate crunch, says study

By Mike Laanela for CBC News

Cutting through red tape and allowing greater density will do more to create affordable housing in Metro Vancouver than taxing speculators and foreigners, according to a new study.

“I’m not suggesting that the tax has no part to play, but that approach is unbalanced and one-sided,” says James Tansey, an associate professor at UBC’s Centre for Social Innovation & Impact Investing.

Vancouver Real Estate News, Market Updates, Insider Tips, Stats, & Analysis

Sign up for insider real estate news & tips from our podcasting team.

Are you a realtor? Click here
Selling Your Home? Click here

  • Reload
  • Should be Empty:

By focusing on reducing demand with taxes rather than increasing supply, the province’s goal of fostering more affordable housing might be unachievable, he argues.

“It is possible that higher marginal taxes on single family homes above $3 million will actually increase the price of condominiums and townhomes in the region as they become the affordable option,” he notes.

Continue reading the full story here >>
 

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

As Seen and Heard On

Media enquiries and press contact info: media@vancouverrealestatepodcast.com

© 2020 Matt Scalena PREC* & Adam Scalena PREC* , all rights reserved • Site MapBy Line49 Web Design, Vancouver BC

*Considering a real estate transaction? One of the first decisions you will need to make is whether you should work with a licensed real estate professional who will represent you. Take a moment to read this important consumer protection information from the Real Estate Council of BC. This form explains the special legal duties that real estate professionals owe to their clients. CLICK HERE and please call 778-847-2854 or 778-866-4574 immediately if you would like to discuss.

Back To Top