There are still a lot of seniors and middle class income earners living in sf detached houses that should property tax soar, will be forced to sell their houses and relocate elsewhere.

Since the present valuation of housing means only the rich can buy, this results in a socio economic engineering where only the wealthy have houses.

Is chasing the last of the middle class out of Vancouver, Richmond, Burnaby a desirable thing? Should neighbourhoods be abandoned to the wealthy? Here in Richmond everytime  a long time resident sells, the property is purchased with overseas earned/sourced money, and the demographics change. 

There are areas on Vancouver's west side where businesses are closing because the wealthy new residents only live there part time. 

Eventually only the wealthy will be living in Vancouver. Why drive the middle class out even faster.