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Old 20 May 2017, 10:59 AM   #17
BristolCavendish
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Join Date: Aug 2016
Location: United States
Posts: 1,864
Quote:
Originally Posted by skiahh View Post
It's partly due to Vancouver, BC enacting a 15% foreign purchaser tax on all property purchases. Now those Asian buyers are looking south and, as noted by a couple of people already, dropping (parking/hiding?) cash and driving up prices in the area.
This particular 'purchaser tax' has kind of an exclusionary ring to it. Was it enacted to curtail an increasing influx of immigration and settlement?

For those old enough to recall the 1980s and the economic prowess of the Japan, Inc. business model, most of the businessmen and engineers from Japan usually returned to Japan following a 1-2 year period of employment at their stateside subsidiaries and corporations. This was always their prime objective and very few resettled in the United States. On the other hand, countless Chinese and East Indian professionals have opted to seek permanent residency in the mainland United States and Canada. I suspect that it may have something to do with less than desirable 'quality of life' issues in many (or most) parts of China and India.
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