Dear Editor,
While the intention by our government with the foreign ownership tax is to stop property prices from running wild, there may very well be a violation of principle in a country that believes free enterprize produces its own checks and balances over the long haul without the help of government imposed tax.
Question in point — is it right for government to so suddenly impose this kind of tax without realizing the effect on some foreign buyers, who are working hard to settle in our fair province after a long journey of saving to land in a modest condo?
Seems that all the angles were not considered as well as they could have been by our government.
Also, the potential (housing market)slowdown may cause more hurt than healing. It won’t be a long wait until we see.
Timothy Osiowy
Richmond
