Globe and Mail: Christy Clark calls on Ottawa to boost tracking of real estate transactions

Posted in: , ,

May 12. 2016 | Justine Hunter

Quoted from the article:

BC NDP housing critic David Eby said the citizenship disclosure requirements will not help address what he called a crisis of affordability. “The problem is about behaviour, not citizenship,” he said. The opposition has proposed changes to the tax system designed to capture those who buy property for investment purposes but leave the home vacant, and for those who do not pay income tax in British Columbia.

“Asking someone to declare their nationality is just going to lead to the same problem that FinTRAC has found, which is poor documentation by realtors. We need a different mechanism.”

Read the full article: