The Pacific coast province, which imposed a 15 per cent tax on foreign homebuyers in July to cool Canada most expensive property market, expects overseas investors to scoop up about $4.5 billion in real estate through March 2019, according to new estimates from the provincial government. Its biggest city, Vancouver, has been a magnet for global cash, where home prices are almost double the national average of $473,105.The tax and strong economic growth will lead to a budget surplus of $1.94 billion for the fiscal year ending March seven times bigger than the $264 million surplus in the February budget, according to an update released by Finance Minister Michael de Jong in Victoria Thursday.Review flags concerns about money laundering by organized crime in Canada’s real estate sectorCanadian home sales drop 3% as Vancouver market ‘brakes more abruptly than anticipated’Canadian homes are still cheap, at least in foreign currency: Bank of America in a good year, De Jong told reporters, saying the province was benefiting from a robust economy, including more people working and earning, strong retail sales, and better than expected housing starts.British Columbia has benefited from an economy less reliant on resources than some of its provincial neighbours, leading the nation in job gains and growth. It the only major Canadian province, along with Quebec, to not forecast a deficit for 2016 17.Nervous province expects to raise $675 million over three years from the new real estate tax, according to the documents.
No wonder that the Journal’s lead editorial today could come up with no more specific advice for Obama in tonight’s speech than that he “concede that Dick Cheney was right all along.” That may seem like a farcical notion to many of us, but in the echo chamber of the neocon right, where the Bush Cheney foreign policy remains the holy grail, Cheney is still considered a political asset, not a liability. And a call for ground forces from this crowd may not be far behind. In yet another Journal rallying the troops jeremiad over the past week, Robert Kagan pointedly likened Fareed Zakaria (by name) and Thomas Friedman (by unattributed citation) hardly isolationists to those who failed to appreciate the threat of Germany and Japan in the 1930s.
“Hokie Gajan was a true New Orleans Saint, as a player, a valued member of our scouting staff and later as a broadcaster,” the statement read. “Overall, he impacted our whole organization and had a special relationship with our fans for 36 years. We will miss Hokie dearly and our thoughts and prayers go out to Judy, their four daughters and the entire Gajan family.”.