I don't think a 1% tax really does anything other than give the government another tax source. For the tax to be effective, it would need to be substantial enough that the investment isn't worth it. And because governments love taxes, you know they will just find that sweet spot where people will keep paying. If anything, a tax just incentives the government to let it keep going. Also, the tax will just get worked into the rental costs for the tenants.
The answer is really simple. You just don't allow it. There are lots of countries in the world where they don't allow investment in residential real estate and where affordable housing is seen as a right and homes are not a an investment scheme.
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Last edited by FlamesAddiction; 09-09-2023 at 01:41 PM.
Investors account for 30 per cent of home buying in Canada, data show
This. People decry the conservatives as being puppets of large business interests.
Trudeau says housing isn’t his problem. Yet is responsible for sky high immigration with no real plan, and allowing large investor houses to outbid average people on a home then turn around and rent it to them.
Its all a game. The Liberals are as in pocket of special interests like China and large investment sector. They distract by wrapping it all up in a social justice package. Its as plain as day.
This type of politics does a disservice to everyone. As people see the fraud and end up tuning out social issues. What ends up happening is a back lash your seeing in Europe. Right wing regressive leaders winning
I really wish the Conservatives would have made this easy on me. I can't vote for JT gain. Last time was already a nose-held vote, and even more promises broken.
I've voted Conservative before, but I can't wrap my head around this iteration of the party.
In past, this would have been a protest vote to the Greens... but holy hell... no thanks.
Rhinos don't run in my riding. I just have no idea what to do.
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I really wish the Conservatives would have made this easy on me. I can't vote for JT gain. Last time was already a nose-held vote, and even more promises broken.
I've voted Conservative before, but I can't wrap my head around this iteration of the party.
In past, this would have been a protest vote to the Greens... but holy hell... no thanks.
Rhinos don't run in my riding. I just have no idea what to do.
Probably NDP for me. Mostly a protest vote, I'm certainly not buying what they're selling but the Liberals and Conservatives have straight up proven they're incapable
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If you don't allow investment in residential real estate, how do you have rental properties? Not everyone can or wants to own a home.
No one is saying no investment, but you have large money funds buying homes at an unprecedented rate. To these funds throwing money over ask isn’t a big deal. Its buying an asset, unlike you who pays from savings.
Honestly no sweat off my nose. I bought in 2004 in Eau Claire for 215K condo. Sold my way up to today. In theory my family is fine.
Yet my brother likely will never own a home if he wants. No choice with these prices. Many others like him. All that does is hurt society, with people having no skin in their local community, and broke from rental they’ll lose in an instant.
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If you don't allow investment in residential real estate, how do you have rental properties? Not everyone can or wants to own a home.
In Vienna, Austria for example, they have government owned housing that people can rent. They also have a system where you can rent to own from the government so that most of your rent money goes into equity and you can eventually own the unit. When you sell, you sell back to the government. 80% of the population qualifies for it, 62% uses it, and it's profitable for the government as a whole. Everyone wins, except for investors of course.
People can of course still buy and own outside of the system, but most people just want a stable place to live whether they rent or not. A lot of people who own don't realize how hard it is to be a renter and have to raise a family while also moving every couple of years as rents keep going up.
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Last edited by FlamesAddiction; 09-09-2023 at 02:30 PM.
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This. People decry the conservatives as being puppets of large business interests.
Trudeau says housing isn’t his problem. Yet is responsible for sky high immigration with no real plan, and allowing large investor houses to outbid average people on a home then turn around and rent it to them.
Its all a game. The Liberals are as in pocket of special interests like China and large investment sector. They distract by wrapping it all up in a social justice package. Its as plain as day.
This type of politics does a disservice to everyone. As people see the fraud and end up tuning out social issues. What ends up happening is a back lash your seeing in Europe. Right wing regressive leaders winning
This Liberal era is such a disgrace.
A couple of years ago, there was a Liberal MLA in the Vancouver area who was running on an affordable housing platform, but then it came out that one of his relatives was a realtor and both of them were making a lot of money from buying houses then flipping them. No wonder he wanted more affordable housing. They can make more money buying the affordable homes and making them unaffordable to most people before flipping them.
Housing is a huge social issue in this country and all signs point to it getting worse. The capitalist solutions to this social issue do not seem to be going well.
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I'd argue the capitalist solutions are mired by local politics, far out of the reach from the federal government.
The market consistently tries to find solutions that get bogged down by calls for 'preserving the character of the community' and 'what about the parking?!' and other fun lines.
Even when the feds would try to step into expedite projects (like putting timelines on funding), the same #### happens. Like this old gem about preserving a parking lot ("the hub of the community") to prevent affordable housing from being built with a federal grant https://globalnews.ca/news/7666729/e...sing-conflict/
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If you don't allow investment in residential real estate, how do you have rental properties? Not everyone can or wants to own a home.
The main problem isn't lack of supply, the main problem is lack of available supply.
Deep pocketed investors/corporations/private equity firms buying up units in bulk is why prices are soaring.
The government could use taxation to solve the problem, but I'm not holding my breath that they actually will. They are in cahoots with their corporate donors and likely won't do anything to agitate them.
And yes immigration rates probably need to be cooled off for a while until the situation improves. Again the government has shown no willingness to do this.
The main problem isn't lack of supply, the main problem is lack of available supply.
Deep pocketed investors/corporations/private equity firms buying up units in bulk is why prices are soaring.
The government could use taxation to solve the problem, but I'm not holding my breath that they actually will. They are in cahoots with their corporate donors and likely won't do anything to agitate them.
And yes immigration rates probably need to be cooled off for a while until the situation improves. Again the government has shown no willingness to do this.
While this is definitely a problem in the U.S. and starting to be one in Canada, according to this and other articles, institutions don't seem to be having a big effect on prices yet (especially outside the GTA and Vancouver.
The scale of current institutional ownership over Canadian housing is unclear, but analysts believe it's far lower than in the U.S. and generally a minor cause of the rapid rise in home prices this country has seen over the last decade.
I'd argue the capitalist solutions are mired by local politics, far out of the reach from the federal government.
The market consistently tries to find solutions that get bogged down by calls for 'preserving the character of the community' and 'what about the parking?!' and other fun lines.
Even when the feds would try to step into expedite projects (like putting timelines on funding), the same #### happens. Like this old gem about preserving a parking lot ("the hub of the community") to prevent affordable housing from being built with a federal grant https://globalnews.ca/news/7666729/e...sing-conflict/
Well you can deride those arguments, but the reality is they're valid. People buy properties because of certain advantages and desires. So, of course those same owners are displeased when some of these plans are pushed.
Anyway, another CPC convention and they passed some more socially conservative motions. I'm sure that'll be easy to campaign on!
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Corruption. Hundreds of millions / billions of dollars evaporating and unaccounted for? I feel like that would have an effect somewhere.
UPC supporter I presume?
Right wingers have gotten good at nothing if not projection. I'm sure enjoying the $1500 my household contributed to KeystoneXL.
Again as others mentioned when the right gets in an argument, the deflect, change the question, speak in vague generalizations about feelings. When the left gets into an argument the have the termarity to stay on topic and bring facts to the conversation.
I believe inflation was still the question at hand?
Well you can deride those arguments, but the reality is they're valid. People buy properties because of certain advantages and desires. So, of course those same owners are displeased when some of these plans are pushed.
Anyway, another CPC convention and they passed some more socially conservative motions. I'm sure that'll be easy to campaign on!
I think it’s a good thing. Don’t pretend to be something you are not and rug pull later. Say what you mean, and do what you say and let the voters decide.
The reality is most Canadians care more about keeping a roof over their heads than social issues.
While this is definitely a problem in the U.S. and starting to be one in Canada, according to this and other articles, institutions don't seem to be having a big effect on prices yet (especially outside the GTA and Vancouver.
The scale of current institutional ownership over Canadian housing is unclear, but analysts believe it's far lower than in the U.S. and generally a minor cause of the rapid rise in home prices this country has seen over the last decade.
The article also makes it quite clear that there is a lack of data, and those analyst beliefs are mostly guesswork.
Anyone who has been following what's been happening in China and other parts of the world over the past several years (decades, really) knows that there has been a big increase in investors looking to park their money in safe assets, and said investors have targeted the North American real estate market as one of the safest places to park their money. Then you couple that with corporations/firms buying up real estate, and you end up with a severe supply shortage for the local population.
Families and individuals on low or medium incomes are getting the shaft. Something major needs to be done. Simply investing more money into building affordable housing units, while helpful, won't have that much of an impact, IMO. The answer is using taxation to make the real estate market less attractive to investors.
True. Which illustrates how the delegates at the Conservative convention are not representative of typical Canadians.
I don’t know. Most Canadians seem to be struggling, at the very least a significant amount. Need to be able to live, and not struggle.
Canadians are empathetic and caring, generally speaking, and we do care about social issues and climate change, but we can’t cut off our nose despite our face.
The reality is most Canadians care more about keeping a roof over their heads than social issues.
True. Which illustrates how the delegates at the Conservative convention are not representative of typical Canadians.
That reply did not go how he thought it would.
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Originally Posted by Doctorfever
I don’t know. Most Canadians seem to be struggling, at the very least a significant amount. Need to be able to live, and not struggle.
Canadians are empathetic and caring, generally speaking, and we do care about social issues and climate change, but we can’t cut off our nose despite our face.
That's the point he's making but I feel like it's whooshed pretty hard on you. Instead of trying to focus on the things that everyone -- irrespective of political stripes -- can get behind such as housing, inflation, etc., the federal Conservatives delegates can't help themselves in chasing these ridiculous right-wing fringe social positions that are more at home with the PPC and turn people off because yes, Canadians generally are empathetic and caring.
The federal Conservatives seem hellbent on losing an election they could handily win if they weren't looking at the right-wing parties to the south and thinking "Yeah, those policies, those look like good ideas".
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Originally Posted by Azure
Typical dumb take.
Last edited by TorqueDog; 09-09-2023 at 06:52 PM.
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Well, the Liberal government is not transparent in any fashion with the books, where the money being questioned has been spent, or how or what they’re even really spending money on- so your question is not even answerable. I am just guessing, and I am certainly not a government finance expert, but something tells me when billions just disappear and other government programs and budgets still require funding, the money to fund those budgets still has to come from somewhere (borrowing).
Trudeau said a couple years ago, borrowing isn’t a big deal because interest rates are low. But now they’re rising, so now we are spending a disproportionate amount on borrowing costs we otherwise wouldn’t have maybe had to if those missing (we think? They won’t even say?) billions weren’t spent.
Dude you can't even show the "billions" disappearing. But even if it did, WTF does that have to do with inflation? and you seriously don't get the relationship between interest rates and inflation, do you.
