Vancouver BC, our neighbor to the north, has an average housing price that is similar to San Francisco’s. Much of Vancouver’s housing market has been driven by the immense wealth of Asian immigrants. In order to tackle the problem of extreme price appreciation and lack of available housing for native Canadians, the government recently instituted a 15% housing tax for all foreign buyers. It’s too soon to tell how effective this new policy has been, but we may see a steep rise in foreign buyers coming to our area in the near future.
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