Posted in another tread today on this subject…
I don’t like restricting foreign real estate purchases but I don’t have any problem at all taxing the hell out of them if they do not live there and are just parking cash away from their respective governments. Vancouver has an Empty Homes Tax but I don’t like how they require 6 months of residency.
I think that should be lowered to just 1 month if you’re a US citizen and can show you are living elsewhere in the US for 10 months. There are some people who own vacation property that choose not to rent out and only visit for a short time each year. They pay property taxes and having it sit empty is their right. But foreign money…tax them to hell if they are not living in the unit.