@SteveSaretsky Government closed the tap of unlimited stream of the new tenants, pulling the rug under the developers.
And even with that mindset I am not in favour of saving them.
@guyfelicella This is not how you solve housing crisis. Government isn’t in business of creating housing but policies that will 1) keep prices of re affordable,
2) paycheques sufficient to buy that RE and
3) profits/margins large enough to motivate private capital to build/create RE.
@ronmortgageguy Hi Ron, typically variables were always cheaper than 5yr fixed…until last 5–6 years.
Is situation back to normal and money can be saved with variable?
@BenRabidoux It can happen if the head of the beast is not cancerous. However i think the issues we see as a result of policies are because people creating and enforcing those policies are dishonest and corrupt.
Tough luck.
@ronmortgageguy Unfortunately speculation and RE obsession seems like a cancer - and it needs to be dealt with appropriately. surgery won’t work but radiation/chemo treatment will. Make it punitive and undesirable to hoard housing.
Unfortunately some innocent people would get hurt as well.
@thescottbarber You lose all respect when people read this:
”federal government already pays for”.
feds is just a redistribution of money provinces are sending it. And albertans pay for their part and probably all atlantic provinces as well.
@ilaks@MPelletierCIO This is why i compared salary mentioned above and average tax penalty.
True you save 1000 a month on taxes but then you spend some of that on health insurance and some of that for health deductible.
@ilaks@MPelletierCIO Its then only fair to compare avg. tax rate of comparable salary of 275k CAD.
turns out its ~37% in Ontario and ~33 in California.