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Government should focus on supply-side solutions - economist

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Ephraim Vecina | 17 Aug 2016, 08:15 AM Agree 0
CIBC chief economist stresses the need for a “gentle end” to the unsustainable price growth in leading housing markets
  • Omer Quenneville | 17 Aug 2016, 11:05 AM Agree 0
    To work on the "supply end" would require our government to think from a "reward" system instead of a "punitive" system. They just don't think that way. They should lower the tax to 10% and remove the land transfer tax so "move up" buyers can afford to sell and trade up or down. Right now in Ontario, buyers once into the market, can't afford to move causing the supply to be very low. Its not rocket science. It just requires public to think a bit harder about the people they elect.
  • MFenn | 20 Aug 2016, 12:43 AM Agree 0
    To add to the metaphor "Killing two birds with one stone", it's truly "shooting oneself in the foot" to impose punitive taxation in order to drive away investors and lessen confidence in the property market; this second metaphor can also be applied to the solutions of those who want a freeze on new land being available for property development, because those who loudly complain about the price of property cannot then simultaneously try to buck the law of supply and demand by restricting the amount of new property. Campaigning groups and individuals who rage against the market and against overseas buyers with enough confidence in Canada to invest here, are not being helpful.
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