- Tom Davidoff on the NDP’s potential housing strategy: As the NDP had not announced their budget at the time of recording, Tom speculated that they might phase in an additional surcharge at a low rate for people who aren’t income tax payers. They may also apply a different rate for non-tax payers as they were asking about ex-residents of BC on the property transfer tax form.
- Tom Davidoff on his market predictions for 2018: Immigration isn’t stopping; there are still lots of bottlenecks with contractors and permitting, along with the stress tests, high rates, and high prices. For Tom to even be surprised, prices would have to move up or down by at least 25%.
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Tom grew up in New York (listening to Donald Trump talk about his real estate project). He worked for a shopping centre developer after college, learned about government and politics, completed a degree in economics and urban planning at MIT, and taught in the business schools of UC Berkeley and here, at Sauder. Along the way, Tom worked Obama’s Council of Economic Advisers during the US housing crash. He got involved in policy when everyone went crazy over empty homes and escalating housing prices. He helped put together a tax proposal that wouldn’t target nationalities, but would cool down elements of the market driven by foreign buying. Tom is also agitated about zoning.