Quote:
Originally Posted by greendrake
I applaud this as it is designed to get rid of forgiven owners who are over inflating the value of homes in Va and TO. Chinese billionaires have been scooping up property and then just sitting on it because they know the value will rise when the he market is so strong because of there purchases. Regular residents can't afford a place to live all because some wealthy person in another country is playing games.
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Exactly the problem is foreigners are buying houses by the dozen then boarding them creating a shortage to drive prices up.