One serious issue that has been bothering me for years and has now again appeared in the news virtually demands my writing – foreign ownership of both residential and commercial properties.
Tragically, our provincial government, specifically our premier, clearly endorses foreign ownership from comments she has made. Certainly she must realize refusal to take the matter in hand forces Canadian citizens and residents out of the market and allows our land to be taken over by financial tycoons that care nothing other than for getting maximum return on their investment with absolutely no concern for our country and even less for our citizens.
Recently, it was reported that properties in the Greater Vancouver were up for sale, but Canadian buyers were and/or are excluded.
Again, this shows absolute greed on the part of the current owners and that attitude is obviously endorsed by our current Liberal government.
On the issue of foreign ownership, all levels of government should place severe restrictions on the sale of property to foreign owners. In addition, foreign owners should be required to pay a premium on property taxes and any property transfer taxes, especially when they take over properties and simply leave them vacant with the view of re-selling them at some later date.
I am not against investment as long as it is honest with the view of improving our country. The current situation clearly does not reflect this, as many extremely wealthy Canadians are prepared to shut out their fellow citizens solely to satisfy their greed.
By reason of her comments I would ask Premier Christy Clark if she is in any way concerned for those citizens or residents who are being shut out of property ownership solely due to greed on the part of current property owners who are prepared to have our country taken over by foreigners.
Frank Wirrell,
Abbotsford