[cjak]

> Counter proof: since BC's 15% foreigner tax was implemented, has the Vancouver housing market cooled off? No. To the contrary, it has actually heated up even more. This indicates that the "illegal Chinese dirty money" that the wonderful local Vancouverites keep spouting is not, in fact, the driver of this growth. It's too bad because they are such an easy racial scapegoat, aren't they?

It could also be possible that the Chinese market for Vancouver houses is inelastic enough that the foreigner tax doesn't have teeth.

[pcr0]

Pretty sure this is the case. Even with the tax, Vancouver prices per sqft are a bargain compared to what you would get in Hong Kong.