This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS


Moderator: admin

 
reallyreal2
Real Estate Talker
Posts: 729
Joined: Fri Jun 03, 2016 11:30 am

Re: Speculation tax ! Finally

Mon Mar 12, 2018 1:04 pm

SethM wrote:
This article nails it. The daft NDP has to stop attacking demand. We need more supply. Municipal approvals are way to slow. Their bottle neck is causing the price surges. The NDP  and Greens will kill real estate here and the economy. 

https://biv.com/article/2018/03/foreign ... ng-program

I think it's hilarious to discuss solutions to the housing crisis without first agreeing on some facts.
So - in the lower mainland, how many new condos have been built in the past 10 years?  How many people have moved here?  If anybody has an answer, that would be great.  
But even if we get to the bottom of the questions above, what is wrong with dealing with the problem from both the demand and and the supply side?  Let builders build and tighten up the ability for people to purchase these dwellings.
Listen, I don't like big government that much.... but when we are playing a rigged game where foreigners sneak into Canada with ill gotten gains and manipulate our housing prices so locals can't have a decent life, I expect the government to a) stop it from even happening in the first place (didn't happen because ... well we all know why) and b) when it does happen, take corrective measures.
 
jimtan
Real Estate Talker
Posts: 5479
Joined: Tue Jul 31, 2007 10:59 pm

Re: Speculation tax ! Finally

Mon Mar 12, 2018 1:05 pm

SethM wrote:
This article nails it. The daft NDP has to stop attacking demand. We need more supply. Municipal approvals are way to slow. Their bottle neck is causing the price surges. The NDP  and Greens will kill real estate here and the economy. 

https://biv.com/article/2018/03/foreign ... ng-program

New supply here...
"Cambie Corridor Phase 3 – New Priorities"

viewtopic.php?f=8&t=129673
 
reallyreal2
Real Estate Talker
Posts: 729
Joined: Fri Jun 03, 2016 11:30 am

Re: Speculation tax ! Finally

Mon Mar 12, 2018 1:06 pm

SethM wrote:
NDP real estate tax no different than Trump's wall. It is utterly ridiculous:

https://biv.com/article/2018/03/bc-hous ... -211236417

Now you sound absolutely delusional.  :shock:
 
User avatar
SethM
Real Estate Talker
Posts: 1014
Joined: Thu May 27, 2010 3:32 pm

Re: Speculation tax ! Finally

Mon Mar 12, 2018 2:00 pm

reallyreal2 wrote:
SethM wrote:
NDP real estate tax no different than Trump's wall. It is utterly ridiculous:

https://biv.com/article/2018/03/bc-hous ... -211236417

Now you sound absolutely delusional.  :shock:

You are the one that sounds delusional. This tax is nothing but a wealth and jealousy tax that will affect Canadians more than it will affect foreigners. Why should someone that works hard have to pay a tax on their second home in the Okanagan, on the Island, in Whistler, etc. If people like communism they should try living in North Korea and see how that works out.

Yes, Sam Sulivan's wall metaphor was sarcastic so lighten up.

The NDP must capitulate on this tax or it will be the end of them.
 
User avatar
SethM
Real Estate Talker
Posts: 1014
Joined: Thu May 27, 2010 3:32 pm

Re: Speculation tax ! Finally

Mon Mar 12, 2018 2:13 pm

reallyreal2 wrote:
SethM wrote:
This article nails it. The daft NDP has to stop attacking demand. We need more supply. Municipal approvals are way to slow. Their bottle neck is causing the price surges. The NDP  and Greens will kill real estate here and the economy. 

https://biv.com/article/2018/03/foreign ... ng-program


Listen, I don't like big government that much.... but when we are playing a rigged game where foreigners sneak into Canada with ill gotten gains and manipulate our housing prices so locals can't have a decent life, I expect the government to a) stop it from even happening in the first place (didn't happen because ... well we all know why) and b) when it does happen, take corrective measures.

Well take up money laundering  and tax evasion with the CRA if you don' think they are doing a good job.
We have invited 3 million people to Canada with a super visa program and now we are trying to confiscate their money in obscene taxes after they have invested here:

http://vancouversun.com/opinion/columni ... year-visas

Eyesthebyes bought a house with nothing down that has tripled in value. How is it fair to impact his equity? How is it fair that Canadians have to pay a 2% tax on a second home? 

Canada needs immigration and I think you would agree that rich immigrants are better than poor immigrants that stress our social assistance resources.
 
reallyreal2
Real Estate Talker
Posts: 729
Joined: Fri Jun 03, 2016 11:30 am

Re: Speculation tax ! Finally

Mon Mar 12, 2018 7:05 pm

SethM wrote:
reallyreal2 wrote:
SethM wrote:
NDP real estate tax no different than Trump's wall. It is utterly ridiculous:

https://biv.com/article/2018/03/bc-hous ... -211236417

Now you sound absolutely delusional.  :shock:

You are the one that sounds delusional. This tax is nothing but a wealth and jealousy tax that will affect Canadians more than it will affect foreigners. Why should someone that works hard have to pay a tax on their second home in the Okanagan, on the Island, in Whistler, etc. If people like communism they should try living in North Korea and see how that works out.

Yes, Sam Sulivan's wall metaphor was sarcastic so lighten up.

The NDP must capitulate on this tax or it will be the end of them.

All taxes are transfers from wealthy to not wealthy.  That is why the more money you make, the higher rate you are taxed.
This is far from communism.  There is a housing crisis in the province and specifically Vancouver.  
Luckily this is a free country, so anybody that doesn't like it can bitch and complain or, like bears were told for nearly a decade, move somewhere else.  This government was elected into office and people have spoken. If the previous government did such a good job, they'd still be running things.

There is no divine right to own a vacation home - if you want to own one and not get taxed, buy elsewhere.

I swear, all these people that don't like the NDP are a bunch of whiners.  
 
reallyreal2
Real Estate Talker
Posts: 729
Joined: Fri Jun 03, 2016 11:30 am

Re: Speculation tax ! Finally

Mon Mar 12, 2018 7:10 pm

SethM wrote:
reallyreal2 wrote:
SethM wrote:
This article nails it. The daft NDP has to stop attacking demand. We need more supply. Municipal approvals are way to slow. Their bottle neck is causing the price surges. The NDP  and Greens will kill real estate here and the economy. 

https://biv.com/article/2018/03/foreign ... ng-program


Listen, I don't like big government that much.... but when we are playing a rigged game where foreigners sneak into Canada with ill gotten gains and manipulate our housing prices so locals can't have a decent life, I expect the government to a) stop it from even happening in the first place (didn't happen because ... well we all know why) and b) when it does happen, take corrective measures.

Well take up money laundering  and tax evasion with the CRA if you don' think they are doing a good job.
We have invited 3 million people to Canada with a super visa program and now we are trying to confiscate their money in obscene taxes after they have invested here:

http://vancouversun.com/opinion/columni ... year-visas

Eyesthebyes bought a house with nothing down that has tripled in value. How is it fair to impact his equity? How is it fair that Canadians have to pay a 2% tax on a second home? 

Canada needs immigration and I think you would agree that rich immigrants are better than poor immigrants that stress our social assistance resources.

life isn't fair.
Get over it or move.
 
VanBullBear
Real Estate Talker
Posts: 89
Joined: Tue Dec 22, 2015 2:21 pm

Re: Speculation tax ! Finally

Mon Mar 12, 2018 8:05 pm

Wow alota peeps drank the coolaid. Must have been the easy money.
Too many personal agendas here and not looking at the big picture. The NDP is not going to cater to the people with vacation homes. They are trying to stop the bigger problem -> housing crisis. It's not healthy for people and the economy for people to be buying at these prices.

Why is everyone so surprised anyways? We all saw this coming. Instead of complaining, be proactive and focus on what you can control.

Are you going to cash out on your investment (good on you for getting in early) or are you going to hold? Either choice you are doing well. That is the real question for multi property owners. You need to act fast.
 
User avatar
SethM
Real Estate Talker
Posts: 1014
Joined: Thu May 27, 2010 3:32 pm

Re: Speculation tax ! Finally

Mon Mar 12, 2018 8:17 pm

reallyreal2 wrote:
SethM wrote:
reallyreal2 wrote:
Now you sound absolutely delusional.  :shock:

You are the one that sounds delusional. This tax is nothing but a wealth and jealousy tax that will affect Canadians more than it will affect foreigners. Why should someone that works hard have to pay a tax on their second home in the Okanagan, on the Island, in Whistler, etc. If people like communism they should try living in North Korea and see how that works out.

Yes, Sam Sulivan's wall metaphor was sarcastic so lighten up.

The NDP must capitulate on this tax or it will be the end of them.

All taxes are transfers from wealthy to not wealthy.  That is why the more money you make, the higher rate you are taxed.
This is far from communism.  There is a housing crisis in the province and specifically Vancouver.  
Luckily this is a free country, so anybody that doesn't like it can bitch and complain or, like bears were told for nearly a decade, move somewhere else.  This government was elected into office and people have spoken. If the previous government did such a good job, they'd still be running things.

There is no divine right to own a vacation home - if you want to own one and not get taxed, buy elsewhere.

I swear, all these people that don't like the NDP are a bunch of whiners.  

Ah last I remember the people of B.C. elected the Liberals and the NDP and Greens formed a coalition. The NDP policy is NOT what the people of B.C. and most notably Vancouver want. They were foisted on us. Why the ad hominen attacks? Are you Eyesthebye now? Calling people delusional and whiners, Leave the attacks to Eyesthebye.
 
User avatar
SethM
Real Estate Talker
Posts: 1014
Joined: Thu May 27, 2010 3:32 pm

Re: Speculation tax ! Finally

Mon Mar 12, 2018 8:19 pm

reallyreal2 wrote:
SethM wrote:
reallyreal2 wrote:

Listen, I don't like big government that much.... but when we are playing a rigged game where foreigners sneak into Canada with ill gotten gains and manipulate our housing prices so locals can't have a decent life, I expect the government to a) stop it from even happening in the first place (didn't happen because ... well we all know why) and b) when it does happen, take corrective measures.

Well take up money laundering  and tax evasion with the CRA if you don' think they are doing a good job.
We have invited 3 million people to Canada with a super visa program and now we are trying to confiscate their money in obscene taxes after they have invested here:

http://vancouversun.com/opinion/columni ... year-visas

Eyesthebyes bought a house with nothing down that has tripled in value. How is it fair to impact his equity? How is it fair that Canadians have to pay a 2% tax on a second home? 

Canada needs immigration and I think you would agree that rich immigrants are better than poor immigrants that stress our social assistance resources.

life isn't fair.
Get over it or move.

That is my advice to you. You say there is a housing crisis here. Funny, I don't see one. I think it is pretty damn good. Why don't you vote with your feet and move to North Korea. You could be a King there.

We invited the world here with Expo 86 and the 2010 Winter Olympics. These people invested here. Now the Government is doing a bait and switch taxing there wealth.
 
User avatar
SethM
Real Estate Talker
Posts: 1014
Joined: Thu May 27, 2010 3:32 pm

Re: Speculation tax ! Finally

Mon Mar 12, 2018 8:27 pm

VanBullBear wrote:
Wow alota peeps drank the coolaid. Must have been the easy money.
Too many personal agendas here and not looking at the big picture. The NDP is not going to cater to the people with vacation homes. They are trying to stop the bigger problem -> housing crisis. It's not healthy for people and the economy for people to be buying at these prices.

Why is everyone so surprised anyways? We all saw this coming. Instead of complaining, be proactive and focus on what you can control.

Are you going to cash out on your investment (good on you for getting in early) or are you going to hold? Either choice you are doing well. That is the real question for multi property owners. You need to act fast.

Selling a vacation home means capital gains tax. Better to wait it out. Either the NDP will change the tax or they get turfed out next election or even sooner when this coalition government falls apart. In the meantime, rent your vacation house to a friend for $100 a month to avoid the tax. Of course your friend will only go to the vacation home when invited. Result? No silly tax collected by the NDP. Sorry Horgie.
 
reallyreal2
Real Estate Talker
Posts: 729
Joined: Fri Jun 03, 2016 11:30 am

Re: Speculation tax ! Finally

Mon Mar 12, 2018 9:04 pm

SethM wrote:
reallyreal2 wrote:
SethM wrote:
You are the one that sounds delusional. This tax is nothing but a wealth and jealousy tax that will affect Canadians more than it will affect foreigners. Why should someone that works hard have to pay a tax on their second home in the Okanagan, on the Island, in Whistler, etc. If people like communism they should try living in North Korea and see how that works out.

Yes, Sam Sulivan's wall metaphor was sarcastic so lighten up.

The NDP must capitulate on this tax or it will be the end of them.

All taxes are transfers from wealthy to not wealthy.  That is why the more money you make, the higher rate you are taxed.
This is far from communism.  There is a housing crisis in the province and specifically Vancouver.  
Luckily this is a free country, so anybody that doesn't like it can bitch and complain or, like bears were told for nearly a decade, move somewhere else.  This government was elected into office and people have spoken. If the previous government did such a good job, they'd still be running things.

There is no divine right to own a vacation home - if you want to own one and not get taxed, buy elsewhere.

I swear, all these people that don't like the NDP are a bunch of whiners.  

Ah last I remember the people of B.C. elected the Liberals and the NDP and Greens formed a coalition. The NDP policy is NOT what the people of B.C. and most notably Vancouver want. They were foisted on us. Why the ad hominen attacks? Are you Eyesthebye now? Calling people delusional and whiners, Leave the attacks to Eyesthebye.


I’ll make this simple...If the people elected the liberals, they’d be running the government. They aren’t. The rest sour grapes.
 
eyesthebye2
Real Estate Talker
Posts: 1206
Joined: Sun Jul 27, 2014 6:41 am

Re: Speculation tax ! Finally

Mon Mar 12, 2018 10:26 pm

Canada needs immigration and I think you would agree that rich immigrants are better than poor immigrants that stress our social assistance resources.


I'll take middle class immigrant over the rich ones - they make for better neighbours and are generally not tax evaders
 
VanBullBear
Real Estate Talker
Posts: 89
Joined: Tue Dec 22, 2015 2:21 pm

Re: Speculation tax ! Finally

Tue Mar 13, 2018 1:36 pm

eyesthebye2 wrote:
Canada needs immigration and I think you would agree that rich immigrants are better than poor immigrants that stress our social assistance resources.


I'll take middle class immigrant over the rich ones - they make for better neighbours and are generally not tax evaders

Money laundering, tax evasion, multi-million dollar owners in welfare is like cancer to the system.
I really hope David Eby and his team can clean house.
 
VanBullBear
Real Estate Talker
Posts: 89
Joined: Tue Dec 22, 2015 2:21 pm

Re: Speculation tax ! Finally

Tue Mar 13, 2018 1:40 pm

SethM wrote:
VanBullBear wrote:
Wow alota peeps drank the coolaid. Must have been the easy money.
Too many personal agendas here and not looking at the big picture. The NDP is not going to cater to the people with vacation homes. They are trying to stop the bigger problem -> housing crisis. It's not healthy for people and the economy for people to be buying at these prices.

Why is everyone so surprised anyways? We all saw this coming. Instead of complaining, be proactive and focus on what you can control.

Are you going to cash out on your investment (good on you for getting in early) or are you going to hold? Either choice you are doing well. That is the real question for multi property owners. You need to act fast.

Selling a vacation home means capital gains tax. Better to wait it out. Either the NDP will change the tax or they get turfed out next election or even sooner when this coalition government falls apart. In the meantime, rent your vacation house to a friend for $100 a month to avoid the tax. Of course your friend will only go to the vacation home when invited. Result? No silly tax collected by the NDP. Sorry Horgie.

Sounds like you got it figured out. You're going to go around the system.

Who is online

Users browsing this forum: No registered users and 3 guests