So it seems,
TD Bank sees a possible “soft landing.” – huffingtonpost.ca
Is this the consequence of the announcement of of “imminent” tax on vacant homes …?
Vancouver mayor mulls implementing London’s ‘Ghost Home” Tax
Investors sit on thousands of empty homes as more and more people struggle to pay rent. Public sentiment turns against wealthy foreigners, who many say are responsible for surging property values.
There are many parallels between Vancouver’s housing market and the inner-city London borough of Camden, said Councillor Theo Blackwell, who oversees the finance portfolio for the district.
“There was a suspicion that quite a lot of these people or overseas companies were using Camden’s property like gold bricks, basically,” Mr. Blackwell said in an interview last week.
In 2013, he helped implement a tax on empty “ghost homes” that has since been mimicked in other parts of London and is now being embraced by Vancouver’s mayor as a way to bolster his city’s 0.6-per-cent rental vacancy rate.
Mayor Gregor Robertson issued an Aug. 1 ultimatum to the province last week, saying Vancouver would go it alone if the government refused to start implementing the idea. On Wednesday, city council voted to approve this adversarial approach, despite staff from both city hall and the provincial Finance Ministry meeting throughout this week to see if the proposal will work.
Supporters say the tax is a valuable tool in the fight to make housing more affordable when the world’s richest people increasingly seek to profit from real estate. But critics argue that the tactic is too much work for authorities and has little overall effect on a superheated market.
Read more at http://www.theglobeandmail.com/
Many seem to think Canadian real estate may not crash, but the end is nigh for real estate super-hotness. At least it is no longer that sexy … So said the pundits:-
Why Vancouver housing may have hit its dot-com bubble peak
In fact, sexiness is already out of the question in the rest of the regions in Canada …
Hold on a sec …
What is happening? I am confused … Is our real estate market still sexy or not?Never mind, here are some of the sexiest buildings ever erected …
Pabellon de Aragon – Zaragoza
The Crooked House of Sopot -Poland
Device to Root Out Evil – Vancouver, Canada
Basket Building- Ohio, U.S.A
Edificio Mirador – Madrid, Spain
Fuji Television Building – Tokyo, Japan
Cubic Houses -Rotterdam, Netherlands
The UFO House -Taiwan
Nord LB building (Hannover, Germany)
Conch Shell House, Isla Mujeres, Mexico
Stone House (Portugal)