In the Media: August 1 – 5

As you can imagine, this week has been almost entirely about the new tax for foreign investors purchasing residential real estate in Metro Vancouver. If by some chance you’ve missed all the coverage, don’t worry, we’ve got you covered.

Who’s been talking to the Board…

  • The Province interviewed our CEO, Rob Philipp, and discussed the ripple effects of the new foreign tax not ‘grandfathering’ already structured deals.
  • Breakfast Television talked to Rob along the same lines. You can watch the footage here.
  • A number of radio outlets, including CKNW and AM980, also talked to Rob, which you may hear clips from throughout the weekend.
  • Lastly, President Charles Wiebe was featured in this CBC article, delivering a similar message about the adverse impact this tax’s implementation will have on many Fraser Valley clients.

More perspective on the new tax

  • Did you know that the new tax will also apply to apartment buildings? Commercial property owners are now learning that, too, and figuring out just what it means.
  • Huffington Post reports that BC real estate is in ‘absolute mayhem’ with many consumers experiencing the negative impact of the new tax’s implementation.
  • Yahoo detailed one Iranian man’s experience with the new tax, as he is set to lose thousands on his first home in BC.

In other news

  • Millennials are still working towards home ownership, according to this recent survey by the Ontario Real Estate Association.
  • The Real Estate Council of BC announced that it will begin requiring government photo ID for anyone taking a licensing exam beginning on September 1.

And for fun!

And that’s this week in the media!