LETTER: Tax for foreign home buyers is a welcome one

One reader supports the new tax and, in fact, doesn't think it's gone far enough.

A Surrey Now reader backs to the tax on foreign homebuyers.

The Editor,

I support the new tax on foreign buyers fully, and feel it hasn’t gone far enough.

I am sick and tired of hearing the whining of the realtors who are involved in selling out our homes to foreigners at the expense of our own children who live and work here in B.C. It is a pretty sad state of affairs when your child is well educated and holds a job with compensation more than twice the average wage, yet struggles to afford a small condo and can’t afford to buy a detached home such as what they grew up in.

SEE ALSO: Poll finds strong support for foreign home tax

I don’t believe the low stats on the number of foreigners stealing our real estate out from under our children, as there are not that many millionaires living in B.C. who can pay over a million dollars for a home!

I would support not allowing foreign investment at all until our own youth are looked after, and pulling the licenses from real estate agents who deliberately look for loopholes for foreign buyers to rape our housing markets.

We received a pamphlet in our mail slot the other day from a firm stating that they have foreign buyers ready, which really angered me.  The senior vice-president of sales for a South Surrey real estate company was recently quoted as saying that a high-end buyer from overseas is taking his millions to Toronto because of the tax. In response, I say good riddance to him and thank you to our new tax for doing that!

Houses are overvalued in term of affordability and I, for one, will not feel sorry for a rich foreigner who has to pay an additional $750,000 on a home that has been inflated to be priced at $5 million. If you have that kind of money, then the tax can’t hurt you.

The real kicker for me is when the managing broker at a specialty realty office asks the question, “Would you pay 15 per cent over-market for a property?” – when that investor wasn’t even fazed by paying over-market value by about 50 per cent to start with! Australia has it right when they protect their existing single-family dwelling neighbourhoods for their own citizens by not allowing rich foreigners to buy into them. That’s what we need to do here, too.

Arlene Laing, Surrey

 

Just Posted

Surrey RCMP investigating after ‘sudden death’ of man found with critical injuries

Police say a man is dead after being found laying on the ground in the 13300-block of 114th Avenue

Kids Boost Immunity honours Surrey school for vaccine donations

Elementary students donate more than 3,000 vaccinations to UNICEF

Teen charged with possession of a loaded firearm after incident at Whalley park

Surrey RCMP say 17-year-old boy allegedly found in possession of loaded handgun

Pug life: Waggish dog names listed in White Rock

Freedom-of-information request lists most ‘pupular’ dog names registered with the city

What’s age got to do with it? B.C. couple with 45-year gap talks happy marriage

An Armstrong couple that has 45-year age gap began turning heads after being featured on show Extreme Love.

WATCH: South Vancouver Island shooting an ‘isolated and targeted’ incident, say police

One person in custody, another fled following shooting and crash on West Shore

Woe, Canada: Bruins down Maple Leafs 5-1 in Game 7

No Canadian teams left in Stanley Cup playoffs

Defence accuses officer of ‘incompetence’ in trial for B.C. man accused in daughters’ murder

Double murder trial for the Victoria father accused of killing his two young daughters continues

Should B.C. parents receive money if they make sure their kids are vaccinated?

New survey looks at public opinion around government’s role in forcing immunizations

Loud jets from Abbotsford are annoying residents of tiny U.S. town

Flights out of Abbotsford airport turn over border town and annoy residents, Sumas mayor says

Olympic auditions return to Lower Mainland

Event an opportunity for unknown athletes to shine and, maybe, change sports

B.C. men challenge constitutionality of Canada’s secret no-fly list

Parvkar Singh Dulai says he received a “denial of boarding” notification under the no-fly program last May 17

Murder on B.C. property didn’t need to be disclosed before sale, court rules

Buyer had tried to break contract after learning a man with ties to crime had been murdered there

Most Read