Housing

Two Years of BC’s Speculation and Vacancy Tax Data!

~ Nathan Lauster ~ Leave a comment

Last week, the BC Government dropped a press release linking to 2019’s data from the NDP’s Speculation & Vacancy Tax (SVT), leaving us with two years of data (!) and including a brief analysis of what happened to properties taxed in 2018! Maybe you didn’t notice? It was a busy week. I’ve been looking through the data and comparing across releases, and here are my big takeaways so far:

  • Overall, tax liability remains very rare (< 1%), and seems to be getting more so
  • The 2019 Technical Report revises some of the 2018 taxpaying figures, generally downward
  • The SVT may have added some rental in 2019, but probably not as much as claimed
  • Best guess: probably because we never had much “toxic demand” to begin with…
  • There’s some hint the SVT might have promoted divorce a bit & probably also migration
  • Some errors and lapses in SVT reporting make interpreting the data harder than it should be!

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What to Expect from an Empty Homes Tax

~ Nathan Lauster ~ 1 Comment

Joint with Jens von Bergmann and cross-posted at mountainmath

Empty Homes Taxes are back in the news!

In a very short time period, we’ve got Vancouver raising its Empty Homes Tax rate from 1% to 3%, based in part on a report from CMHC about a sharp rise in condos on the rental market, we’ve got Toronto eyeing its own Empty Homes Tax, and now reports suggest that even Ottawa is considering getting in on the game.

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BC Housing Platforms!

~ Nathan Lauster ~ Leave a comment

It’s election time in BC! And housing is back on the agenda, even if not quite as centrally as in past elections. Here I want to provide a quick basis for comparing each party platform, adding in a short bit of my own analysis. My quick take is that when it comes to housing there are things to like in each platform, and I hope the parties work together to keep housing on the agenda!

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Homeless Counts and Migration Patterns in Metro Vancouver, Calgary, and Winnipeg

~ Nathan Lauster ~ Leave a comment

People move. That includes people who end up getting counted as homeless. How should we interpret what homeless counts tell us about these people?

To an important extent, this question brings us back to fundamental interpretations of who gets counted. Is being counted as “homeless” interpreted as a social problem: the lack of enough accessible housing? Or is it being interpreted as a person problem: identifying the “homeless” as fundamentally different from housed people?

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Lots for Sale

~ Nathan Lauster ~ Leave a comment

I’m currently enjoying Desmond Fitz-Gibbon’s Marketable Values: Inventing the Property Market in Modern Britain. It’s a fascinating book on how British real estate was transformed from estates granted and traded in private transactions bound by custom (think of landed nobility but also the Commons pre-enclosure) into something that could be bought and sold at auction and described in terms of a market, mostly over the course of the late 18th and 19th Centuries.

I was curious about this book for lots of reasons, not least because it seemed British property practices often spread to colonies, as in Canada. But as described by Fitz-Gibbon, this was actually a two-way street, and experiences in real estate at the peripheries of Empire also often informed practices back in England. Continue reading →

Why People Move in Canada & the USA: Comparing CHS, AHS, & CPS results

~ Nathan Lauster ~ 2 Comments

Why do people move? I’ve taken up this question in a series of recent posts (some co-authored), and though the available data to address the question remains sparse, it’s getting richer all the time. Today I want to compare three different sources of information, highlighting how much it matters just how we ask people about their reasons for moving. Continue reading →

How many owner-occupiers can already defer their Property Taxes in BC?

~ Nathan Lauster ~ Leave a comment

We’re rolling around to property tax time, and municipalities are about to feel the COVID-19 crunch. The Mayors of Metro Vancouver have been leading an ask of the province to backstop municipal finances given that many residents and businesses may fail to pay their property taxes. Indeed, the City of Vancouver recently commissioned a survey indicating that due to job and income losses, some 25% of home owners in the city would be paying less than half of their 2020 property tax bills. Continue reading →

So are you two a couple now? Asking for the BC Government

~ Nathan Lauster ~ 2 Comments

BC has been lauded for rolling out an assistance program for renters, unlike basically every other province. At the same time, BC’s also been criticized for the perceived inadequacy of that rental assistance program, as well as the fact that it literally goes straight to landlords. In conjunction with the temporary eviction moratorium, it would appear that the BC Temporary Rental Supplement (BC-TRS) is really aimed at supporting landlord incomes and easing tenant-landlord relations to avoid a rash of evictions once the moratorium has been lifted. Continue reading →