Big news has emerged from British Columbia, where the government has been criticized for not doing more to address the housing affordability crisis.
"Foreign buyers of Metro Vancouver real estate will be taxed an additional 15 per cent, the government announced Monday in new legislation," according to an article by Rob Shaw.
"The tax would increase the property transfer tax on non-Canadian citizens or non-permanent residents purchasing homes. It would begin Aug. 2 and apply to all residential property in Metro Vancouver, excluding the Tsawwassen First Nation," adds Shaw.
British Columbia Premier Christy Clark is quoted in the article describing the need for the new tax:
There is evidence now that suggests that very wealthy foreign buyers have raised the price of overall housing for people in British Columbia. If we are going to put British Columbians first, and that is what we are intending to do, we need to make sure that we do everything we can to try and keep houses affordable and try to make sure those very wealthy foreign buyers find it a little bit harder to buy a house in the Greater Vancouver area.
The bill also allows the city to tax vacant homes.
FULL STORY: Premier unveils foreign buyers tax on Metro Vancouver real estate
Fast-Rising Rents: Cause or Effect of Institutional Real Estate Investors?
More media attention for the growing influence of large, institutional investors on the housing market.
U.S. Home Sales to Foreign Buyers Drop by Almost 10 Percent
International purchases of homes on the U.S. housing market slowed in the last year.
U.S. Housing Least Affordable in History
American households are spending more of their income on housing than at any other point in recorded history.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
In Urban Planning, AI Prompting Could be the New Design Thinking
Creativity has long been key to great urban design. What if we see AI as our new creative partner?
Florida Seniors Face Rising Homelessness Risk
High housing costs are pushing more seniors, many of them on a fixed income, into homelessness.
Massachusetts Budget Helps Close MBTA Budget Gap
The budget signed by Gov. Maura Healey includes $470 million in MBTA funding for the next fiscal year.
Milwaukee Launches Vision Zero Plan
Seven years after the city signed its Complete Streets Policy, the city is doubling down on its efforts to eliminate traffic deaths.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Gallatin County Department of Planning & Community Development
Heyer Gruel & Associates PA
JM Goldson LLC
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
City of Claremont