The Province: Government leery of taxing real estate speculation

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Thursday June 4 2015 | Michael Smyth | The Province

Quoted from the article:

“NDP housing critic David Eby agrees caution is warranted.

“People borrow against their homes and leave their homes to their children and grandchildren,” Eby said Wednesday. But Eby also called Fink’s promotion of Vancouver real estate as a global investment option, combined with China’s loosened offshore-investment restrictions, a “most troubling” combination.

“We need to take that really seriously,” he said, calling on the Clark government to study the impact of speculation while investing in affordable housing. Eby also cautioned against inciting a racist backlash against Asian homebuyers.

“Every time we talk about this we need to be aware of the history of racism against Chinese people, especially when it comes to housing,” he said.

“We have to be certain we don’t repeat that.””

Read more: http://www.theprovince.com/business/Smyth+Clark+government+leery+taxing+real+estate+speculation/11106591/story.html