Financial expert Simeon Papailias discusses what anyone thinking about buying a home needs to know about the latest rate hikes.
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I think for many Canadians an additional $3,500 a year plus rising costs all around then is fairly devastating.
I think the government should completely close the market for anyone who doesn’t reside permanently in Canada. Students and TFW a should be excluded from buying, and non-resident Canadians must declare enough taxable income here in Canada to prove income would back the purchase price, not like declaring income poverty while living in a 2.5m house and mom drives around in a 150k car and sunny boy takes the super car to Uni ….
Also an additional tax if someone owns more than 2 property, with exception to multiplex
If it’s going to be a tax that money should be allocated directly into getting housing developments, permit approvals and housing related infrastructure . Our government has a real knack for flushing money down the toilet so the less contact they have the better.
@1008chaz 100% agreed, they will end up sending half of it to ukraine
@Mohamed C I disagree that any tax is the answer at this point. The government must STOP printing money. This devalues the dollar. JT has increased Canada’s debt more than ALL previous PMs combined.
@Henry lhd Agreed!! The pandemic – way back in March 2020 should have been a wake up call to everyone!!! Especially those who could not afford next months rent – living pay check to pay check. So two years later is everyone choosing to work more and play less ie out of consumer debt cars, student loans, hollows, credit card etc and have built a fully funded emergency fund and save for retirement before trips, dining out, etc etc ?
nahh thinking about moving out of this poor country
@Tone keep believing that
where are you going?
@John Cam 🤫
FROM 7.7% INFLATION Rate +1% increased 8.7% meaning Your $100 loses $8.7 or now $91.3 actual value..is the Prices going up or the Dollar Going Down?
Don’t do it. If you can sell & get the heck out of Canada do it.
40 billion to the indians, thats some spending power right there never talked about. So many exceptions these Liberals seems to take with their budgeting.
Whatever keeps Trudeau popular with as many groups as possible.
The Bank said they will continue through 2024. The Bank also said that real estate prices will fall into 2023.
They also said they wouldn’t hike for at least 3 years back in 2020.
Why do we even care what they say anymore.
imho, real estate will continue to decline beyond 2023. This is big.
He was great!
The housing market appears to be operating without brakes as home prices continue to climb–the national median listing price saw another double-digit increase in April, climbing to $341,600. in Even with April’s 19.1% jump from a year ago mortgage rates continue to tick up, and buyers are not backing down.