It is interesting to see how other countries deal with their problems. The province of British Columbia in Western Canada has seen real estate prices soar by as much as 30% in a year. In 2016, the province slapped a 15% tax on a house purchased by non-Canadians in the Vancouver market. Now, the province wants to boost that tax to 20%. If you have been there, you know Vancouver is a beautiful city, where in January the benchmark home price was $837,000, up 17% from 1 year ago and up 80% over the last 5 years.
Read the full story: https://www.marketwatch.com/story/british-columbia-cracks-down-on-foreign-homebuyers-2018-02-20