Those selling higher-priced homes should be taxed on the profits according to Nobel Prize-winning economist Joseph Stiglitz.
Speaking to BNN, the former chief economist of the World Bank said that Canada’s best way to avoid a housing bust and tackle the “very disturbing” inequality in the market, is by taxes.
Capital gains tax on high-priced homes together with tax and policies on vacant homes should be used by officials in order to prevent the damaging effects of unaffordable housing, Stiglitz said.
Speaking to BNN, the former chief economist of the World Bank said that Canada’s best way to avoid a housing bust and tackle the “very disturbing” inequality in the market, is by taxes.
Capital gains tax on high-priced homes together with tax and policies on vacant homes should be used by officials in order to prevent the damaging effects of unaffordable housing, Stiglitz said.
