The Business Council of B.C. said the housing measures were unprecedented in scope and may disrupt the market.
Jock Finlayson, the council's chief policy officer, said the high end of the market will feel a hit, because some new measures would increase taxes on houses worth $3-million and more. The question is the impact on the broader market. The moves will be a live public policy experiment. If prices do decline, it probably won't be extreme. "I don't think it's going to collapse," Mr. Finlayson said.