West Vancouver Mayor and Council Call to Restrict Foreign Investors
Posted on June 23, 2016 by Judi Whyte RI & Cathy Wood
Unanimous motion aimed at taming real estate speculation.
West Vancouver’s mayor and council have formally called on the province and federal government to rein in real estate speculation – and they’re asking other municipalities to get on board.
Council unanimously passed a motion Monday night, recognizing the Lower Mainland’s affordability crisis and the role real estate speculation, “particularly by foreign investors,” is having on it. The motion goes on to call for “immediate action to discourage speculation” and to “ensure foreign real estate investors pay a fair share of provincial and federal taxes.”
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