Vancouver readies homeowners for empty homes tax

UBC business professor Tom Davidoff was quoted in a Canadian Press story on the rollout of Vancouver’s new empty homes tax, designed to ease the city’s tight rental market.

Davidoff said the tax could be effective, although it won’t solve the housing crisis by itself.

“We have low property taxes and high income and sales taxes, and the message that sends is: Don’t live and work here, but do buy property here,” said Davidoff. “Not surprisingly, when you send that message, the market responds, and look what we’ve seen.”

Stories appeared on CTV, National Post, and Vancouver Sun.