We need all the legislation we can get on property speculation
Dear B.C. Premier John Horgan and Cowichan MP Alistair MacGregor:
I heavily support any legislative actions our governments take in ending hideous property speculation and business acquisition happening in our province and across Canada.
Investment in Canadian properties and businesses must only be available to Canadian citizens living in Canada. No level of speculation tax will fix this alarming issue.
The current crop of buyers are often Chinese. In past decades investors were American, British and other nationalities.
Gentlemen, this is neither a race nor a colour issue, but a moral, economic and patriotic one.
Speculators are driving housing prices up when working folks can least afford it.
One must basically be a millionaire to afford a home in Vancouver or Toronto.
I also question the source of funds used to buy properties and businesses in Canada.
Offshore monetary sources are allegedly not checked by our bureaucrats to ensure the root is not drug or other dirty money laundered into Canadian properties and businesses.
Peter W. Rusland