Some people love the foreign buyer tax, some people hate it, but at least one person thinks it was a conflict of interest for the finance minister to enact it only in Metro Vancouver when he owns investment properties just outside that boundary:
The one home and six investment properties that belong to Mike de Jong in Abbotsford are worth almost $1 million – a significant investment that rose in value relative to similar properties inside Metro Vancouver, records suggest.
That puts de Jong in a conflict of interest when handling the province’s controversial real estate file, says Duff Conacher of Democracy Watch.
Mike de Jong owns a home and six investment properties just outside of Metro Vancouver.
“Given that the finance minister has significant real estate investments, I don’t think he should have been taking part in this,” Conacher said.
“He would have to recuse himself or sell his properties. It has to be one or the other. He can’t have a private interest and take part in decisions about his properties.”
But de Jong tells CTV News he had nothing on his mind except doing his job when he moved and voted for the tax in the B.C. Legislature.
“The decision was based exclusively on the analysis of the data,” he said outside a Liberal caucus meeting.
Paul Boenisch has been providing a daily snapshot of sold/list/price changes data here daily for as long as we can remember. We’ve just taken some of that data and compiled it into a weekly stats summary video showing daily and weekly totals for the first week of May 2017:
Christy Clark is disturbed by the idea of money going to “wealthy renters”
“That isn’t right,” Clark said. “We shouldn’t be redistributing our tax money to the very rich. We should be making sure that we spend our resources supporting people who are having trouble staying in their homes.”
The NDP also pledges to close a fixed term lease rent loophole that lets some landlords raise rents higher than otherwise allowed.