Governments need to realize the effect of rising home prices on their citizens.

With property taxes changed to be based on market value assessment, inflated property prices mean higher property taxes for everyone.

Rising property values might look rosy in the short term, but the impact in the long term can be drastic.  Especially upon the elderly or retired on a fixed income who have to pay higher property taxes based upon inflated property values.  We will essentially be forcing seniors and the retired to sell their homes and move into rental housing just to afford a place to live.  Is this the direction we want to go in?

The short sighted move to limit the foreign buyers tax to a small region only shifts the problem somewhere else.  It has to be a cross Canada implementation if we want to keep property affordable for Canadians.  Inviting speculative investors into residential properties is detrimental to all Canadians living and working here.