Quote:
Originally Posted by lubicon
Driving foreign investment out of the country will solve the problem how?? this country relies on foreign investment, there is not nearly enough capital within our borders. We need to encourage investment, not drive it away.
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Foreign buyers of local real estate should be taxed in order to lesson demand and fund affordable housing.
Investments from foreign sources that undermine Canadians quality of life are NOT the kind of investments Canada needs.
Encourage business investment sure, but real estate and housing should be Canadian residents first.
Housing is after all firstly a place to live, it shouldn't be treated as a mass commodity like it's currently being treated as.
So yes, tax foreign investors enough to gain revenue to deal with this crisis but not enough to outright scare away investment.
15% Canada wide on all foreign real estate purchases should be enough.
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