Times Colonist: Foreign buyers double in month in Victoria-area housing market

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November 30, 2016 | Lindsay Kines

Quoted from the article:

B.C. NDP housing critic David Eby said it was “totally predictable” that imposing a foreign buyers tax in Vancouver would drive speculators to the Greater Victoria and elsewhere.

“The obvious response to me seems to be that the provincial government should simply level the playing field and apply the tax to the south of Vancouver Island and any other jurisdiction that is affected by this kind of activity,” he said. “I don’t understand why we’re in the situation again of the province saying they’re going to study the problem before they act. How high do prices have to go in the [capital region] before they apply the same tax?”

Eby said that if the government delays, housing prices will escalate beyond the reach of what people can afford to pay on local wages.

“I don’t know why the government would force the [capital region] through the same angst and disaster that Metro Vancouver is still grappling with because they refused to act for two years.” 

Read the full article: http://www.timescolonist.com/news/local/foreign-buyers-double-in-month-in-victoria-area-housing-market-1.3426754#sthash.VRBOYfdS.dpuf