[mixmastamyk]

Don’t need data to prove basic economics at this point. The question left is, does it happen with enough frequency to be a major factor?

I’m not that familiar with the market in Vancouver, however they did pass a law regarding vacancy I believe. Perhaps a local could chime in on efficacy.

[dontparticipate]

As an economist, I would strongly object to the idea that data isn't needed to prove points. I've heard about the particular case of the Vancouver market being popular with overseas buyers, but that doesn't absolve anyone from quantifying it.

The Vancouver specific reaction has been the "Empty Homes Tax" https://vancouver.ca/home-property-development/empty-homes-t...

And according to Vancouver again, while the tax did cause a drop in empty houses declared, in every neighborhood except West End they represent less than 1% of total housing supply )https://vancouver.ca/news-calendar/more-vancouver-homes-occu...) and in most cases less than 0.5% of housing supply.

So while this may be an issue, it doesn't appear to be the issue and it seems that the basic economics here suggest that the issue in Vancouver was not limited to foreign investment. It would appear that in the Vancouver case, this ban on foreign homes would in fact be ineffective since it represents such a small share of housing.

[mixmastamyk]

Didn’t mean to imply data is never needed. However there is more than one layer to the question.