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Ontario hints at measures to cool real estate market in the budget

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Canadian Realestate Magazine | 27 Mar 2017, 02:50 PM Agree 0
Finance Minister Charles Sousa says the upcoming spring budget will include a package of measures dealing with housing affordability
  • Aldo8226 | 27 Mar 2017, 03:22 PM Agree 0
    There is no point in shackling and clubbing to death Canadian Citizens who invest in Real Estate. The whole mess is due to foreign buyers as discovered in Vancouver. Wake up Sousa!
    • Lex Rajah | 17 Apr 2017, 03:15 PM Agree 0
      I'm a REALTOR in Vancouver. Foreign buyers, as per government data, were only 3%. Rest were local buyers.
  • David | 27 Mar 2017, 04:03 PM Agree 0
    This is nothing but an excuse for the liberal govt to add more tax dollars that they can waste.
  • Mkimbe2 | 27 Mar 2017, 05:09 PM Agree 0
    Why not just elimate all Chinese "investment" ( money laundrying).
  • Tracey | 27 Mar 2017, 05:24 PM Agree 1
    Housing is not affordable to 1st time Buyers because;

    1) the stress test knocked many 1st time Buyers out the market
    2) increase in CMHC insurance premiums
    3) decrease from 40 year amortization to 35, then, 30, then 25 (equivalent to a 3% interest rate hike)
    4) another increase in insurance premiums
    5) double land transfer tax

    and yet they point at finger at speculators who did not cause the increasing prices, speculators responded to it. Canada's immigration policies have led to the shortage of inventory. Foreign investment also did not cause low inventory! Here's a solution...fire all economists because they are oblivious to market forces.
    • Bonnie | 27 Mar 2017, 06:45 PM Agree 0
      Well said Tracey.
    • | 28 Mar 2017, 03:52 PM Agree 0
      I wish you guys would think before throwing comments. While some of what you said is true the rest is not. The simple reason is when they make it easier for you to borrow as much money as you want the price doubles and then it becomes more unaffordable when at the same time you're getting into more and more debts and forever.
    • Wahaj Ahmed | 28 Mar 2017, 06:16 PM Agree 0
      Well explained Tracey. Agree with most of the points if not all. The problem is not investors or speculators its low inventory and poor initiatives from the GOVT to help first time home buyers. This happens all over the world and Canada is not exempt from laws of economy. There is ofcourse a solution to this challenge which is not so simple but not impossible either.
    • Andrew Hefner | 09 Apr 2017, 06:29 PM Agree 0
      On Point! 🙏👍
      Here's something to wrap your head around. If more measures are taken to tax capital gains on principal residences, as has been one of the rumours, there will be less supply. In a supply and demand driven Market I don't need to be an economist to surmise that will only increase prices.
  • | 28 Mar 2017, 12:06 PM Agree 0
    Exactly! Could not agree more. I am and have been in real estate for many years.
  • Angie | 02 Apr 2017, 04:12 PM Agree 0
    Tracey is 100% correct!
    As a solution for 1st time home buyers, why not eliminate the municipal and provincial land transfer taxes for those buyers?
  • Average Joe | 02 Apr 2017, 05:18 PM Agree 0
    Just make illegal "contact " and prices decline
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