Foreign buyers spend more on B.C. homes, some dispute data

The Globe and Mail quoted UBC economist Tom Davidoff for an article on B.C.’s foreign home ownership data.

Davidoff is leading the charge for a targeted property tax and said the government should not “drag nationality” into the housing debate. Instead the focus should be on whether people owning homes in Metro Vancouver also make their money here.

Davidoff also discussed the issue in a News 1130 interview, saying: “The real follow up is to look into tax data, and ask, do people who don’t make a living here, and don’t report taxable income here, buy a lot of property?”

In another article on Global News, Davidoff outlined some of the signs of a housing bubble bursting: the slowing of sales volume and the rise of inventory, as well as increasing rental vacancy rates.