Quote:
Originally Posted by scryer
See I always felt that the 15% increase on foreign home buyers was weak. Now this is something I can see being effective if it is regulated properly.
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Have you seen any of the stats pre and post tax? Foreign home buyers have dropped dramatically. Housing sales have dropped dramatically (already started prior to the tax). It takes time for actual prices to come down, but there's no reason to think they won't.
This market, like all others, has followed the laws of supply and demand forever.