Global News via Jill Slaterry reports a realtor has initial statistics to show market has dropped because of the government announcement of the foreign buyer additional property transfer tax.
The BC government has imposed the tax to slow down the market and help ease local home affordability. Pundits say though that this new tax measure will not solve the affordability crisis. Government has to step up supply of affordable acomodations to make meaningful inroads.
Slaterry has indicated more information and time needed to measure the efects of the new tax.
TC
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