British Columbia

The HST will hit right when the recovery is slated to be in full swing

For Immediate Release

Vancouver / July 27th  - The Real Estate Investment Network (REIN™), a Division of Cutting Edge Research Inc. is Canada’s leading real estate research, education, and consulting organization. 

On July 1, 2010 the provincial governments will be instituting the Harmonized Sales Tax (HST) to replace the separate PST and GST. Although this is deemed by many to be a boon for the provincial economy and most business owners, it will have a severe impact on the real estate industry.   "The Lower Mainland is already the least affordable housing market in Canada and now, with the additional costs of the HST added on top, home ownership becomes out of reach for even more" says Don R., Campbell, President of the Real Estate Investment Network and author of the best-selling books Real Estate Investing in Canada 2.0 and 97 Tips For Real Estate Investing.    

Good for “Most” Businesses but Real Estate Investors and Renters will Lose