Non-resident taxes and the role of house price expectations / by Mikael Khan and Matthieu Verstraete.: FB3-7/2019-8E-PDF
"In recent years, the governments of Ontario and British Columbia have imposed taxes on purchases by non-Canadian residents of residential properties in certain jurisdictions. The outsized decline in housing resales observed after these taxes were implemented suggests that the taxes altered residents’ housing market expectations. Using data from the Canadian Survey of Consumer Expectations (CSCE), we show that house price expectations played a material, albeit temporary, role in observed housing market dynamics following the implementation of the non-resident taxes. This effect was more pronounced in Metro Vancouver than in the Greater Golden Horseshoe Area"--Abstract.
Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.870157&sl=0
| Department/Agency | Bank of Canada. |
|---|---|
| Title | Non-resident taxes and the role of house price expectations / by Mikael Khan and Matthieu Verstraete. |
| Series title | Staff analytical note = Note analytique du personnel, 2369-9639 ; 2019-8 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | Title from cover. Includes bibliographical references. Includes abstract in French. |
| Publishing information | Ottawa : Bank of Canada = Banque du Canada, [2019] |
| Author / Contributor | Khan, Mikael, author. Verstraete, Matthieu, author. |
| Description | 1 online resource (ii, 7 pages) : colour charts. |
| Catalogue number |
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| Subject terms | Taxes Housing |
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