Quote:
Originally Posted by Winsor_Pilates
Which makes no difference to the tax payer AKA homeowner.
The point is there has been numerous taxes added to our market to increase cost of ownership and slow down pricing growth and none of it has worked significantly.
All of these, especially the foreign buyer's tax was widely applauded by people happy to make foreigners the problem, then flippers were the problem, then people with too many properties sitting empty.
Government has reacted to every boogy man and we're still in the the craziest market in many years with upwards of 50 people bidding on the same house.
None of these changes have created a large increase in supply, which is the solution we really need.
If you have some federal government intervention ideas to increase that, I'm with you.
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That's not my point though. I was saying the Federal government will likely need to step in to do something, but the problem is whatever policy they do implement, will be across Canada, instead of locally, as per their track record. You replied to my comment, citing policies that were implemented from the municipal and provincial level. I guess I didn't specifically say the
Federal Government, but I thought that was a given.
I don't have the solution. I'm just saying I wouldn't be surprised to see the Feds try something, and it will have negative impacts in other markets across the country.