The new home-flipping tax in Vancouver aims to discourage quick flips and make housing more accessible by reducing competition from investors.Real Estate experts see the tax as a positive step for the market, potentially leading to more balanced market conditions.
The tax exempts situations like job relocation and certain family situations, acknowledging that not all quick sales are driven by profit.The tax, along with high-interest rates, could lead to a shift towards a more stable market for first-time buyers and upgraders.
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