Eventually the tax exemptions will be eliminated. Why should I be taxed on my stock investments? Buying homes as investments doesn't better society, it's actually having the opposite effect. Either eliminate taxes on all investments, or start taxing housing sales the same as stocks, all across the board. Fair is fair, level the playing field. If people are buying to live than this shouldn't matter to them.
'The worst scenario': What if Canada's real estate bubble bursts?
- Thread starter yung_dood
- Start date
GTA Home Sales Plunge 26% Following Ontario Foreign Buyer Tax
http://www.movesmartly.com/2017/05/...-26-following-ontario-foreign-buyer-tax-.html
http://business.financialpost.com/n...w-and-even-shrink-in-wake-of-cooling-measures
http://www.movesmartly.com/2017/05/...-26-following-ontario-foreign-buyer-tax-.html
95% of these investors were buying homes that were losing money each month because the rent wasn’t high enough to cover the carrying costs of the home – but did so because they believed prices would just keep going up by 20% per year.
This type of speculative behaviour has virtually disappeared over the last 45 days. Buyers are starting to see for the first time in a long time – that real estate prices can actually go down.
Canada’s big banks see mortgage growth slow and even shrink in wake of cooling measuresWhen prices climbed 33% in March 2017- this may have been the straw that broke the home buyer’s back. Buying a home in the GTA was already difficult in 2016, but somehow the average cost of a home went from $688K in March 2016 to $917K in March 2017.
This last surge in prices was too much and too fast for most buyers. After seeing some of the incredibly high sale prices in February and March – many buyers decided to get out of the market because they felt they just couldn’t compete.
http://business.financialpost.com/n...w-and-even-shrink-in-wake-of-cooling-measures
The trend in reduced sales has been going on for months now in Vancouver, and again in May which is a hot month for real estate. Real estate prices are sticky but sooner or later, supply and demand dynamics kick in.ok so they did scare a few sellers into putting their houses on the market and a few buyers are holding back...how long can that last for?
https://betterdwelling.com/city/vancouver/vancouver-is-seeing-less-sales-in-may-and-more-inventory/
Toronto bidding wars turn to homebuyers’ remorse as market gets nervous
http://business.financialpost.com/p...-to-homebuyers-remorse-as-market-gets-nervous
http://business.financialpost.com/p...-to-homebuyers-remorse-as-market-gets-nervous
