| There are policies that can be gradually brought in that wouldn't crash the market. Firstly, you make it more expensive to own an empty home. In my home city in the UK, landlords are no longer able to claim council tax discounts for empty properties after 6 months. If your home is vacant. You pay up. Secondly, you incentivise rentals through tax breaks to landlords. Finally, you have to push prices down. After all, rising prices is why foreigners own these assets in the first place. - Stop foreign ownership of more than 50% of a building. That way, projects still get funded and locals get housing. - Increase stamp duty taxes on foreigners purchasing homes - Use the money you gain in tax revenue to fund cheaper real estate building for locals - Any other real estate can only be bought by foreigners if they are locally resident in BC for a year or more What is really outstanding with all of this though is that Canadians cannot own property in Hong Kong (lease only, lots of Government owned real estate) and cannot own property in the PRC without meeting residency requirements. Why should Canada treat people differently? That being said I don't think any of this is possible with the likes of NAFTA. |