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Lower Mainland Living
"DOING IT RIGHT" IS MORE THAN A SLOGAN .... IT'S OUR WAY OF DOING BUSINESS!
"DOING IT RIGHT" IS MORE THAN A SLOGAN .... IT'S OUR WAY OF DOING BUSINESS!
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Ava Shannon from LEPS did a great presentation at Dan’s Rotary Club about the Community Harvest Program.

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Here’s a really good example of why you don’t look to newspapers if you really want to understand what’s happening – or should happen - in this real estate market to provide affordable housing.

The “Enormous” support was 733 Metro Vancouver adults out of a population of in excess of 2.5 million in the region. The survey was done 4 days after the surprise announcement of the tax so we can safely guess these people were making an emotional rather than an informed decision However, We must remember that the job of news media is not to inform but to sell advertising space – sometimes in the process one stumbles across good journalism – bookmark it because it is rare.

When one does start to research this issue, more and more information comes to light that these kind of taxes on demand do not work to create affordable housing. What does work is increasing the supply of entry level and rental housing well ahead, or at least in step with demand. Yes, that means higher densities and changing neighbourhoods.

Certainly the statistics of the numbers of immigration and migration to this region shouldn’t have caught our elected officials by surprise!? What other explanation could there be for their being reactive instead of proactive?

The more informed we all are as to all aspects of this complex issue, the more this knee jerk reaction by the Provincial Government will be seen for what it is - a distraction from the failings of the Provincial and Vancouver governments to adequately address the affordable housing issue long before now.

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So when the BC Government’s major source of revenue is hitting all time highs and the much touted LNG Projects still on the drawing board, does the BC Government really want to slow the market?

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While the “target” of this tax was likely primarily Chinese investors….

We tend to overlook the fact that the definition of “foreigners” in BC also includes Americans and Mexicans, and a dozen other countries signatory to NAFTA.

Barry Appleton, the Managing Partner of Appleton & Associates, is an international lawyer specializing in international trade and investment law. He is the author of several publications on international law and is the Editor-In-Chief of the Investor State Reports and Appleton’s International Investment Law and Arbitration News says “…. the tax violates the 2014 Canada-China Foreign Investment Promotion and Protection Agreement (FIPA) along with 18 other treaties with various countries. “It doesn’t sound very pretty to me.”

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Fabulous new listing in heart of Langley City. 
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