Vancouver Empty Homes Tax. Epic Failure So Far!

Vancouver Empty Homes Tax. Epic Failure So Far!
The numbers are finally out on the Vancouver Empty Homes Tax and they are underwhelming, in my opinion. As expected, the city of Vancouver has brought in far less money than they originally promised. Turns out there were far fewer empty homes that what they thought. Even worse, after you deduct the cost of implementing and maintaining the program the total amount collected so far is only 7 million dollars. Has it boosted rental supply…NO. Has it brought down condo prices.. NOT YET. Interest rate hikes and more mortgage tightening will be the cause of that. In other words this new empty homes tax is exactly what I said it was 8 months ago when it was first introduced. A Giant Tax Grab!

Thanks to all the viewers and commenters on all my videos. Unfortunately, due to the number of comments I’m getting, I don’t have the time to reply to all. There are some great moderators here who think like I do (and some who have read my book). I encourage you all to continue the great conversations amongst yourselves.

Watch more in depth topics on real estate, investing and my book in these PLAYLISTS:
– HOT & Helpful Topics on Real Estate: https://www.youtube.com/watch?v=yB15NWMG_Es&index=1&t=25s&list=PLfJDYyEjdB9DWpBcmOMd7gMi9s3zlzqAe
– My Book “Along for the Ride” Videos: https://www.youtube.com/watch?v=411WvkJ6zE4&index=1&list=PLfJDYyEjdB9AH6amDEgcaHn8gDoEgw7en&t=25s
– My Investment Strategies & Tips: https://www.youtube.com/watch?v=f7O3HAlEWUU&t=7s&list=PLfJDYyEjdB9DF_cOXQPru2uOMsJDXZrd-&index=1
– Real Estate 101 Series: https://www.youtube.com/watch?v=-Dc3ssi49Fw&t=16s&index=1&list=PLfJDYyEjdB9D3GC-sBh0QoC6v04RJr-ti

Stay in touch on social:
Twitter: https://twitter.com/OwenBigland
Instagram: http://instagram.com/AlongForTheRide_Bigland/
Facebook: http://facebook.com/OwenBiglandRealtor/

If you want to get in touch with me, please email me at owen@owenbigland.com.

Thanks for watching!

Get my new book “Along for the Ride” available at:
Amazon.ca: http://bit.ly/Owen_Bigland
Amazon.com: http://bit.ly/OwenBigland_us

OWEN BIGLAND
MACDONALD REALTY
Direct Ph: 604.889.1118
http://owenbigland.com

VANCOUVER BC HOMES & CONDOS
GREATER VANCOUVER BC REAL ESTATE FOR SALE

Vancouver Empty Homes Tax. Epic Failure So Far!