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Vancouver State of Market

Bob Rennie Backs Real Estate Speculation Tax

Real estate marketer Bob Rennie has joined Mayor Gregor Robertson in calling for a speculation tax to discourage house-flipping, which the mayor blames for skyrocketing housing costs. “It's clear that rampant speculation on real estate is driving up prices in Vancouver," the mayor said, pushing the province to take action to create a “fair and level playing field” to make housing more affordable. In a speech last week to the Urban Development Institute, Bob said he backed a spec tax, but noted that a lack of homes in Vancouver (just 47,000) is a primary reason prices are so high.

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