Previous housing data understated amount of non-resident buyers in Vancouver and Toronto

A neighbourhood of single-family homes is seen in Arbutus Ridge in Vancouver on Wednesday, Sept. 5, 2018.Not so long ago, real estate industry and government officials were doing their best to shut down concerns that skyrocketing housing prices in Vancouver and Toronto were related to non-resident buying.

Perhaps the most surprising revelation is the rate of non-resident participation in the buying of newly built condos across the region. “In Richmond, condos built between 2016 to 2017, we’re talking about 26 per cent have non-resident participation. That’s one in four.” Using new methodology, the crown corporation has revealed that many properties have a mix of resident and non-resident ownership. They analyzed this mix in the category of “non-resident participation,” meaning at least one owner on title was a non-resident. Put another way, at least one person on title is a non-tax resident, which means they do not have a principal tax residence in Canada. They earn their income and pay their income taxes elsewhere.

This was obvious to anyone with a pulse. Doesn’t enhance trust in government or media when they publish clearly false information.

They seem to think that we dont know that. Well, we do and take their data with a grain of salt. Along with job creation.

If the Globe and Mail editors can't grasp the use of amount versus number we may as well give up on grammar.

Ya, no shit. Who would’ve thought they’d fudge the numbers?

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