what are you talking about… all of your comments are so .. childish… anyways. as far as we are concerned, the state of china does not concern us…
it’s getting a little unstable so we want to move the assets here…

btw… I am Canadian citizen and my wife holds Chinese passport… I guess I am ok right?

Baloney. This is most certainly NOT about race. The fact that YOU are trying to make it about race does not make it so.

This is about rampant real estate speculation, fueled by money not made in the province, causing a real housing crisis in the Lower Mainland, and to some extent on Vancouver Island. This is about the government finally taking steps to enforce the laws of the land to reign in this speculation. If you don’t like it, sell your property and move.

NDP!

NDP!

You got my next vote if you followup well on these changes.

Shoo away corrupt liberals.

I mean the sign in a prestigious park in the middle of Peking that said ‘No Women, No Dogs, and No Chinese.’

Methinks you should really research British Imperialism. It is not just Hong Kong the British made the Chinese second-class citizens in their own country.

Totally agree, double-end the foreign/non-resident real estate buyer’s tax with an additional tax from the proceeds of sale. Upon closing the sale, the foreign/non-resident seller’s lawyer would be required to withhold the tax from the proceeds of sale and submit the tax to the government and, if they don’t, they would be held financially and criminally responsible. This way, the government gets tax at from the non-resident purchase and sale, lower tax at purchase and, probably, higher tax revenue at sale.

‘ Some people have to sell. Divorce. Death. Illness. Loss of income.”

Uh, yeah I’m pretty sure they experience those things since they’re also HUMAN. Geez.

Divorce =split the properties and hold or pass to children
Death=pass properties to spouse and children
Illness=pass properties to spouse and children
Loss of income=property already paid for or adult children take over

Unfortunately for those hoping taxes will somehow lower the price of real estate, these new policies could backfire. At best, they might stem demand temporarily as locals who need housing stand on the sidelines to see how these measures play out.

Meanwhile as prices flatten or drop, and construction labor is focused on affordable housing the gov’t is pushing for we’ll have less free market units being built and demand still growing.

Also land prices go up because of the new speculation and property transfer taxes. But I guess the gov’t thinks the developers will eat those costs and not pass them on? Or maybe we just need to increase the taxes even more as suggested?

That a given behaviour is motivated by a long-held cultural belief doesn’t automatically make it a good strategy. Some people have to sell. Divorce. Death. Illness. Loss of income. Even rich Mainlanders must experience some of those things some of the time. Also, if this latest round of regulations and taxes doesn’t work, there will be more, and more, and more. Sooner or later, those foreign residents who wanted to hang onto their property and “build wealth for their kids and grandkids” will be forced to sell because economically, owning the place won’t make sense anymore. This will be called racism and xenophobia, but I think the new orange government proved this week that those accusations aren’t as effective as they once were.

Fuck off with your opinions on what the chinese need to teach anyone. And i hope youre single-handededly are willing to foot the bill when their wives, kids, grandkids, grandparents and money scurry back off the china and were left a decimated housing market and banking system. Fucking idiot.

One rule a lot of asian cultures abide by when it comes to real estate: once you acquire a good property, you never sell it.

I think this lesson escapes a lot of the good ‘ole born and raised Canadian folk on these boards and others. Most of these newcomers are not trying to speculate and cash out, they’re in it for the long run and in are buying to build wealth for their kids and grandkids.