Spurred on by record price increases (80% in three years in my city) the land transfer tax raised 1.6 billion dollars this year - and helped balance the BC provincial budget. The RE industry was the largest contributor to  BC's GDP.

All levels of government here are dependent on taxation of real estate, and the associated development fees.  All levels of government here are dependent on political donations from the real estate and construction industry, whose players top the donation lists.