Quote:
Originally Posted by chemgear
What is the ground level impression of the HST? Hear a bit about it in the news.
Is the fear about higher costs once it is in - would that help push sales in the short term until July 1?
(I think it's July 1st, but I could be wrong.)
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I sell new developments which is where HST will apply. Most new condos/townhouses are sold pre-construction, so HST already applies with building completing after July 1; therefore there's no rush to buy now and beat the HST, its already too late.
The only developments that could see a push to buy before July 1 would be left over units at new developments which are move in ready. There's not a lot of this in greater Vancouver.
October 14, 2009 is actually the last chance to buy without HST effecting you, and I bought October 12th
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The fear is that we are jumping from 5% to 12%, but in reality most homes will be receiving a 5% rebate (homes under $525,000), so the hit is only 2% more. Homes above that price will be seeing more impact from the addition of HST as their rebate is capped at $26,250 (5% of 525K).