A new tax on foreign buyers and a threatened tax on vacant homes have contributed to a significant drop in home sales in October.
Canada's most expensive property market saw home sales drop 39 percent in October from a year earlier, according to a report in The Seattle Times. Erik Hertzberg and Natalie Obiko Pearson report that the drop followed multiple government actions designed to slow down the hot real estate market which has seen home prices climb 29 percent in the last year. The most significant action was a new 15 percent tax on real estate transactions with foreign buyers, which went into effect in August of this year.
The British Columbia government imposed a 15 percent tax on foreign buyers in August, the city plans to start taxing vacant homes next year and the federal government tightened mortgage insurance eligibility requirements on Oct. 3.
FULL STORY: Vancouver, B.C., home sales fall 39% as new rules chill market
Coming Soon to Ohio: The Largest Agrivoltaic Farm in the US
The ambitious 6,000-acre project will combine an 800-watt solar farm with crop and livestock production.
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
Divvy Introduces E-Bike Charging Docks
New, circular docks let e-bikes charge at stations, eliminating the need for frequent battery swaps.
How Freeway Projects Impact Climate Resilience
In addition to displacement and public health impacts, highway expansions can also make communities less resilient to flooding and other climate-related disasters.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
The state’s energy grid was entirely powered by clean energy for some portion of the day on 37 out of the last 45 days.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
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