Economics 101—demand, supply, taxes and housing in Vancouver

The start of a new school year and the influx of hundreds of students to my first-year economics class means I am on the lookout for useful examples of economics in action. Thanks to the government of British Columbia, I have received a great example of how governments deal with policy issues and their myopic understanding of markets and how they work.In July, the B.C. government announced a new 15 per cent tax on foreign buyers in the Vancouver area in an effort to address the issue that foreign speculators were driving up the price of housing and making housing

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