Market analyst Jason Mercer discusses the changes to Ontario's foreign-buyers tax, which look to increase affordability.
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Kinda like what they said about lowering auto insurance. Insurance definitely hasnβt gotten cheaper.
for auto insurance you have to shop around and change every year to get the best rates.
@Phantom Warrior Sure, but like RC says it never went lower as government claimed it would when they capped some coverages.
It’s incredible how quality of life in Canada has declined since Trudeau assumed office in 2015. Very sad and I feel for all Canadians who are struggling.
@Gideon Bempong No, because those are both centrist capitalist parties. They are devoted to shareholders, lobbyists, and the investors that have created this problem. If you want to keep voting for two sides of the same coin, don’t complain when you aren’t any better off.
@Nosnibor Mailliw Indeed, William – why haven’t they? Why has this been allowed to happen for years and years, under LPC and CPC governments? What possible reason could there be?
To be Fair. Quality of life has not declined. If anything Canada still ranks in the top 10 countries to live in. The only thing that has happened is inflation, which is a common outcome of a Liberal party. To be fair a lot of Canadians are happy with this inflation, specially the ones that own a house and are coming to retirement. This is proving to be a big return on their years invested. On the other hand it is difficult for new buyers to secure houses and that’s where the government has to take serious steps into getting rid of financial investments into residential properties by foreign investors.
I hasn’t mattered which party runs the government, we have always had a “housing shortage” because we’ve always had mass immigration. Even the Greens are not advocating sustainable population and not opposing urban sprawl.
I love being almost 30 with 2 kids and need to be a millionaire to even start looking at buying a house . Honestly looking at other options where to raise my kids .
Move to the prairies there the most affordable places in canada right now
Come to Saskatchewan or Manitoba just stay clear of Winnipeg
by ur kids do u mean ur plants lel
Maybe you shouldn’t have had kids if you can’t afford them??
Houses here matched the median income and a family could afford a $350-$400k home. Now that same house is $790-$900k. That price increase just in the past 18 months. This is an hour outside a major city
Cant wait till Real Estate Agent Jobs gets automated
Why do RE Agents even exist? Why does anyone need to hire someone to sell their home in a “seller’s market”?
They are society leaches, taking your hard earned money
If thereβs one thing I know, its when government tries to fix something it usually gets worse
There should be another tax that applies to housing corporations (REIT’s) that are buying up the housing. Lets talk about this too!!!
Realtors, tax accountants, mortgage reps who are sending forged documents to banks for mortgage approvals should be stopped. A lot of investors are inflating their income and doing misrepresentation to get mortgages. It’s happening openly in gta. Until and unless this is stopped house prices will keep rising as investors will keep buying homes .
A lot of Born Canadians are buying up all the real estate to. Taxing foreign buyers ainβt going to do much. Lots of ppl are abandoning saving Canadian dollars and buying and investing in real estate. Low interest rates, all the money printing to fund social programs is a big reason the Canadian dollar is so weak you can hardly afford gas food etc. anymore π€¦πΎββοΈ
Real estate prices should keep going up forever, land is limited and the population will continue to grow. Prices will forever grow long term, ppl if u wanna retire early start buying up homes
Mass immigration. How many dwelling units are taken up by 400,000 immigrants? Maybe about 100,000 units per year just for newcomers. The solution seems simple to me.
The house should serve the only purpose and reason why it’s even build. It means the shelter for you and your family, and not being used as some Casino chip to gamble as it’s now, and especially, it should be banned for the foreigners to use it for hiding their ill gotten $$$ in Canada.
if you look at the cost of building homes in Ontario, you wouldn’t be surprised about why they cost so much. the gov’t isn’t making it any cheaper to build new homes, so why would the selling price come down?
There should be another tax that applies to housing corporations (REIT’s) that are buying up the housing. Lets talk about this too!!!
Relax, if the Government says they’ll fix it they will. Look at their perfect record so far. Isn’t life great under Liberal grow it from the heart out policy?
I donβt see that having much effect on the price of housing in Ontario. BC did that to some municipalities and Vancouver and Victoria still remain in the list of most expensive places to buy a home in Canada.
They should focus on increasing the supply of cheaper homes, not any kind of home, and I donβt believe that more taxes will help with that.
Make a home more easily bought and sold by the individual and eliminate foreign purchases and the leeches. The lawyers, real estate agents, real estate companies etc.
As long as Humanity and Corporate Greed exists, Toronto house affordability for the average Canadian will never happen.
if you look at the cost of building homes in Ontario, you wouldn’t be surprised about why they cost so much. the gov’t isn’t making it any cheaper to build new homes, so why would the selling price come down?
There should be another tax that applies to housing corporations (REIT’s) that are buying up the housing. Lets talk about this too!!!
No because we are still taking in close to 500k immigrants a year and most are settling in Ontario. There is a massive problem of corrupt city councils and organized crime gangs as well.