So it looks like the city of Vancouver is now taxing foreign real estate buyers. The idea is that real estate is very expensive in the city (it's among the most expensive places to buy a house in the world), so they are clamping down on foreign buyers by taxing them. What do you think about this? Is it a good idea? Should other cities like NYC and SF that have expensive real estate consider doing it? Or is this just more government overreach?
Article about this, argues that it will hurt the city. http://www.onepercentguys.ca/toronto-real-estate-blog-by-andrew-doumont/