Increased foreign buyer taxes in Canada's British Columbia is likely to have little effect on the affordability challenges being faced there, reports BuzzBuzzNews (22 February 2018). The B.C. government recently raised its foreign buyer taxes from 15 percent to 20 percent, and announced a new speculation tax aimed at foreign and domestic speculators who don’t pay taxes within the province. According to Juwai.com CEO Carrie Law, “Vancouver’s housing boom was born in the halls of the Bank of Canada, where interest rates are set, rather than the streets of Beijing.”
