- There are 7.8 million single-detached homes in Canada. - The value of those homes has risen by an average of $370,000 in the last 10 years. That represents an increase of 2.88 *trillion* dollars. I think that's a little more generationally unfair than the deficit.
- There are 7.8 million single-detached homes in Canada. - The value of those homes has risen by an average of $370,000 in the last 10 years. That represents an increase of 2.88 *trillion* dollars. I think that's a little more generationally unfair than the deficit.
@MikePMoffatt Mike, I appreciate you shining light on the other areas of the 2024 budget, and I know you are a liberal fan, but you must know how sad this capital gains increase is, right?
@MikePMoffatt Your point is off. But for fun, of that $37k/ year appreciation, how much annual mortgage interest, R&M, and property taxes were paid? And then factor in inflation, minus your down payment and opportunity cost… not much of a windfall IMO
@MikePMoffatt The increased value on a home isn’t realized unless sold. It’s not fungible monies.
@MikePMoffatt So if someone has good fortune you're just entitled to take some of it? This is the working theory of gangs.
"I think that's a little more generationally unfair than the deficit. Q: Why did housing prices rise so much? A1: Inflation, resulting from Government monetary policy, including deficit spending to pass out "free stuff" to the very people they were disenfranchising. A2: Scarcity, resulting from regulations, fees, taxes and disincentives to invest.
@MikePMoffatt It just means the holders of dollars got poorer.
@MikePMoffatt Government policy created that increase. Now government wants to "fix" the problem they created with more government. No thank you. Reduce the cost of housing by letting the free market solve the problem.
@MikePMoffatt @Gronk9797 No factor in the depreciation of the dollar And then factor in the cost of mass immigration and look at that wecare actually poorer than 10 years ago, all of us