Prime Minister Mark Carney signed a symbolic order signalling his government will prioritize passing his promised middle-class tax cut, following the first in-person meeting of his cabinet on Parliament Hill Wednesday.
And it should be obvious that despite new regulations being put in for Foreign buyers, Vacant units, and Airbnb, the prices haven’t dropped to even pre-pandemic levels, let alone any useful amount, and they’re expected to keep climbing this year.
These are all small red herrings that are easy PR wins for the government, but don’t actually do anything useful to the prices.
They did drop for us in Vancouver. I’m not suggesting it accounts for the high prices everywhere but it definetly had a market affect as airbnb people dumped their additional units. One owner had over 40
and yet if you go look at the charts for say Vancouver and Toronto over the same period of time you can clearly see there’s little to no effect from BC’s policy changes.
And it’s still a couple million dollars to buy a detached home in Vancouver, and the cheapest 2 bedroom condo is a half million (and it’s literally on East Hastings) with most normal 2 bedrooms being listed at $600-700k
These policies haven’t made anything affordable, and they aren’t going to make things affordable.
Oh they didn’t make it affordable, I just meant we saw price drop in market and assessments. Prices here are ridiculous. We paid 415k for 2 bedroom apartment, now it is 575k but before the changes they were selling for 675k sight unseen, just buyers snapping them up
And it should be obvious that despite new regulations being put in for Foreign buyers, Vacant units, and Airbnb, the prices haven’t dropped to even pre-pandemic levels, let alone any useful amount, and they’re expected to keep climbing this year.
These are all small red herrings that are easy PR wins for the government, but don’t actually do anything useful to the prices.
They did drop for us in Vancouver. I’m not suggesting it accounts for the high prices everywhere but it definetly had a market affect as airbnb people dumped their additional units. One owner had over 40
Or it just happened to coincide with a massive jump in interest rates which also affected prices elsewhere that didn’t implement these policies.
No there are articles about the affect upon announcement and then institution
and yet if you go look at the charts for say Vancouver and Toronto over the same period of time you can clearly see there’s little to no effect from BC’s policy changes.
And it’s still a couple million dollars to buy a detached home in Vancouver, and the cheapest 2 bedroom condo is a half million (and it’s literally on East Hastings) with most normal 2 bedrooms being listed at $600-700k
These policies haven’t made anything affordable, and they aren’t going to make things affordable.
Oh they didn’t make it affordable, I just meant we saw price drop in market and assessments. Prices here are ridiculous. We paid 415k for 2 bedroom apartment, now it is 575k but before the changes they were selling for 675k sight unseen, just buyers snapping them up