Not surprisingly short-sighted politicians creating the housing crisis

Short-Sighted Politicians Are Fuelling Canada’s Housing Crisis

The latest example of Canadian politicians’ (in)action in regard to real estate prices getting out of control is the recent decision by the B.C. Premier Christy Clark, to reject the idea of raising taxes for overseas investors — despite a petition from her constituents that attracted some 25,000 signatures. “By moving foreign owners out of the market, housing prices will drop,” she reasoned, voicing her concern about the (possible) loss of present homeowners’ equity.