[emptybits]

> A city should be happy to have the tax revenue with none of the burden.

This is true. The city (actually province & city) receive the tax revenue.

Unfortunately, rental stocks are so low in Vancouver that it's very difficult to find a place to live among all the (apparently) empty condos and houses owned by people who don't live here. The average house price is $1.4 M. A small 2 bedroom condo will still set you back half that. Thus, the pressure is on the rental market and finding/encouraging a larger rental supply.

So while the government is fairly paid by absentee home owners, there is an argument that the government should be doing something for its resident citizens.

It's an experiment. Much like our recent 15% foreign buyers tax reported a few months ago. We're all watching the experiment. Perhaps our role is to serve as a lesson to other cities? :-)