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GST free home sale backfire

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Scarman

New member
Oct 2, 2021
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This was a bail out to developers. Corporate buying wasn't stopped during the GST break for this reason. Its exchanging hands without benefiting the tax payer. In fact, we are on the hook for it.
 
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seanzo

Well-known member
Nov 29, 2008
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Looks like they are buying dog crate condos not single family homes
 
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DesRicardo

aka Dick Dastardly
Dec 2, 2022
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Simply put if these units don't sell, our economy is at great risk.

The FIRE economy is a large piece of our revenues.
 
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Anbarandy

Bitter House****
Apr 27, 2006
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nottyboi said:
https://www.thestar.com/real-estate...cle_899ba81b-b385-43ad-9370-86178d487187.html

WTF this was supposed to help individual home buyers, now its just landlords buying.
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The condo units were just sitting there, "completed, empty and unsold".

Do "they" actually believe that taxpayers funding 13% of a corporation's bulk purchase of already built, but unsold units, will actually spur new housing construction that is not just another "wash/rinse/repeat" recycling of what the macro-house building/industry/investor market concocted that brought us into the mess in the first place?

As always, those that create the crisis are the one to benefit at the massive expense of the taxpayers.

F. off, the lot of them!
 
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southpaw

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May 21, 2002
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Anbarandy said:
As always, those that create the crisis are the one to benefit at the massive expense of the taxpayers.
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Well said, Al Bundy. Just like climate change, net zero, social welfare, public housing, and wars for Israel.
 
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seanzo

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Nov 29, 2008
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nottyboi said:
Sure but they are getting a GST holiday.
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Buying sub 600 square foot condos, even at rock bottom prices and no GST, hardly seems like a worthy investment. Especially when rent prices are cratering as well. Add to that how poorly built most of those condos are, the fees alone would eat up the majority of whatever rent you'd be able to command for a place like that.
 
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