Vancouver just hit foreign homebuyers with a massive tax

http://money.cnn.com/2016/08/02/real_estate/vancouver-foreign-property-transfer-tax/index.html?iid=Lead

This came up quickly - it will be in effect for properties that are currently under contract it went into effect eight days after it was announced. I would not be happy if I was under contract and this happened!  Buy in Naples instead!

Starting Tuesday, foreign buyers purchasing property in the Canadian City will be hit with a 15% property transfer tax.