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.
Lien permanent pour cette publication :
publications.gc.ca/pub?id=9.870157&sl=1
| Ministère/Organisme | Bank of Canada. |
|---|---|
| Titre | Non-resident taxes and the role of house price expectations / by Mikael Khan and Matthieu Verstraete. |
| Titre de la série | Staff analytical note = Note analytique du personnel, 2369-9639 ; 2019-8 |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Format | Électronique |
| Document électronique | |
| Note(s) | Title from cover. Includes bibliographical references. Includes abstract in French. |
| Information sur la publication | Ottawa : Bank of Canada = Banque du Canada, [2019] |
| Auteur / Contributeur | Khan, Mikael, author. Verstraete, Matthieu, author. |
| Description | 1 online resource (ii, 7 pages) : colour charts. |
| Numéro de catalogue |
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| Descripteurs | Taxes Housing |