![]() The entire private sector produces only about 200,000 units nationally, the bulk of those being condos. Both of those numbers are, of course, fiction. Oh, and did I mention that the Libs will build 1.4 million homes in three years? That came after the Con promises to put up a million. They include a ban on blind auctions, total transparency on a property’s price history, increased realtor disclosure, automatic mortgage deferrals in the event of job loss (because a house is now a right) plus the legal right of buyers to a home inspection. But they fall 100% under provincial jurisdiction. Yes, some of these things are good, needed and responsible. T2 would create a “Home Buyers’ Bill of Rights”. They’d expand the anti-foreigner vacant home tax to apply to vacant land.Īnd more. The government would tax the poop out of anyone buying a home and selling it before 12 months had passed. The Libs would find another $3 billion to repair “affordable” homes or convert office space (if people want to WFH they might as well move into their cubicle). To feed unsubstantiated public myth and copy the Cons and Dippers, Trudeau would also ban any non-Canadians from buying a property. And the feds would hand over $4 billion to cities for a “pool of cash” to be used if they created “middle class housing.”Ĭan you think of additional ways to increase demand for scarce listings, rendering it more attractive and appealing for first-time buyers to compete for houses and further escalate prices? Nah, me neither. ![]() Over $1 billion will be spent on a “rent-to-own” program which would “create a pathway” for tenants to become owners of a property within five years.A multigenerational tax credit would be created to encourage families to buy and expand housing or to add a secondary unit.The premium would drop by 25%, saving more than $6,000 on average. Mortgage borrowing would be made less expensive and leverage encouraged by slashing the cost of mandatory CMHC insurance for all high-ratio mortgages (less than 20% down).The federal government would also cover most closing costs by doubling the first-time homebuyers tax credit, from five grand to $10,000.Over 40? Saving and investing for retirement? Well, suck it up. Now two newbies could suck $150,000 from registered funds with no tax payable. This is in addition to tax-free RRSP withdrawals ($70,000 per couple) to buy real estate. Forty grand equals almost seven years of regular allowable TFSA contributions, by the way, but this amount could instantly be sheltered for a property. They could stash $40,000 in there, grow it tax free and use the cash for a downpayment. After gutting contributions for everybody’s TFSA, Trudeau wants to create a new one.Do not attempt to read this while drinking anything. In case you missed it, here are the main points. ![]() But, of course, the goal is to win votes. If the object is to make houses cheaper, it’s a giant fail. In other words, the government party is throwing everything it can possibly think of at the housing file because – all of a sudden – it might not ace this election. It has all the depth a plan formulated in the campaign plane washroom on the back of those handwipe packets. The Liberal real estate strategy is breathtaking. And of those, guess which the biggest cohort of voters cares about most?īingo. There are now but two issues in the federal campaign.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |