Article content

The Fraser Valley Real Estate Board has issued a “call to action” to its 3,000 members, asking them to fight the new 15-per-cent tax levied on foreign home buyers.

In an email on Aug. 16, board president Charles Wiebe said the two-week-old tax has hurt clients and the housing market. The tax, aimed at curbing skyrocketing real estate prices in Metro Vancouver, has also created an “unfair ripple effect,” hurting local Canadians, Wiebe added in an interview.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Fraser Valley real estate board calls on members to fight foreign buyers' tax Back to video

“The government needs to look at it again, and change it,” he said. “There are still deals coming forward that may collapse because of this.”

The board is urging members to write to their MLAs and keep up the pressure. “It’s not uncommon for governments to amend legislation after the fact, but they’ll only do so with sufficient pressure and proof of impact,” said Wiebe in the email.

It is unclear how many real estate deals have collapsed as a result of the new levy.