Vancouver's 'nightmare' housing tax threatens foreign tech talent

Vancouver

VANCOUVER'S technology industry is in danger of becoming collateral damage in British Columbia's push to rein in spiralling home prices.

The surprise decision last week to impose a 15 per cent levy on overseas property investors may make it even harder for Vancouver to attract foreign talent and reach its goal of becoming a Canadian version of Silicon Valley. The city already has two major strikes against it: some of the highest housing costs and lowest wages among North America's emerging technology hubs.