Residency requirement is a good idea for real estate purchases
It's being floated about, the idea to ban foreigners from buying property in BC. I'm not an expert on this, but one thing I do know.
A party offering a populist idea that pledges to ban foreigners from [activity] is bound to attract voters with a certain antipathy towards.. foreigners.
Maybe that's the intention, maybe it isn't. But are we 100% sure that it's only foreigners cash that's distorted Vancouver's real estate market? Are we 100% certain that domestic or even local investment hasn't played a role in distorting with housing prices in the city? The answer is "no" to both.
I don't claim to be an expert on housing, real estate and relevant regulations. But a narrative in BC that seeks to blame the foreigners isn't philosophically far from Trump's attack on #DACA folks. Blame the foreigners, kick 'em out, that will fix our problems.
No. It makes us look like an asshole.
My 2 bits.