Real Estate

Do you think the government interferes with the market too much or too little

  • Last Updated:
  • May 27th, 2017 10:31 pm

Poll: Do you think the government interference with the market too much or too little

  • Total votes: 69. You have voted on this poll.
Too much(may cause a big crash)
 
36
52%
Too little(may not afford a house)
 
24
35%
Well situated( moderate intervention)
 
9
13%
[OP]
Newbie
May 2, 2017
43 posts
40 upvotes

Do you think the government interferes with the market too much or too little

Who can predict the future?
Protectionism!!! black vs white In USA
renters vs landlords in Canada
Last edited by Calvin140 on May 18th, 2017 11:01 pm, edited 1 time in total.
21 replies
Sr. Member
Dec 23, 2010
603 posts
187 upvotes
Ottawa
GTA home owners will vote too much. Priced out renters will vote too little.

Nice poll.
[OP]
Newbie
May 2, 2017
43 posts
40 upvotes
70% of Canadian are homeowners. 30% of Canadian are renters.Well...............Election is coming.Good luck................................Liberals.
Wynne wants to buy votes,but she loses more votes.
This harsh policy targets foreigners, but it hurts locals more.
Ironic!!!!!
Last edited by Calvin140 on May 18th, 2017 11:41 pm, edited 1 time in total.
Deal Fanatic
User avatar
Jul 17, 2008
7190 posts
1161 upvotes
Applesmack wrote:
May 18th, 2017 11:35 pm
GTA home owners will vote too much. Priced out renters will vote too little.

Nice poll.
Exactly this.

And since RFD great majority lives in GTA, guess what the overall pool will be.
Member
Sep 18, 2012
314 posts
211 upvotes
BRAMPTON
Applesmack wrote:
May 18th, 2017 11:35 pm
GTA home owners will vote too much.
That's ironic because government/BofC policies were a huge reason prices went up in the first place.
[OP]
Newbie
May 2, 2017
43 posts
40 upvotes
That's the past. People talk about Wynne government now!
Deal Addict
Dec 5, 2009
4203 posts
1889 upvotes
Applesmack wrote:
May 18th, 2017 11:35 pm
GTA home owners will vote too much. Priced out renters will vote too little.

Nice poll.
Not necessarily. I'm a home owner and have mixed feelings. I dont want a crash, but also do not want to continue to see the unhealthy and unsustainable parabolic rises we've seen, and would rather see some steam come out of the market as a soft landing situation rather than a big crash.
Deal Addict
Feb 9, 2009
3818 posts
1501 upvotes
fdl wrote:
May 19th, 2017 2:37 pm
Not necessarily. I'm a home owner and have mixed feelings. I dont want a crash, but also do not want to continue to see the unhealthy and unsustainable parabolic rises we've seen, and would rather see some steam come out of the market as a soft landing situation rather than a big crash.
soft landing is probably where we are headed since rates are low and employment growing in GTA.
Deal Addict
Nov 24, 2013
3915 posts
1028 upvotes
Kingston, ON
D. None of the above

Governments are reluctant to interferin the market and attract ire, so they stand back and do nothing for too long after a problem starts. Once the public swings around to being critical of the government "not doing anything," THEN the government tries something, which can alternately be too heavy-handed and draconian, or too-little-too-late and ineffective. Rarely is a "Goldilocks" amount of balanced intervention actually achieved.
Newbie
User avatar
Apr 5, 2017
54 posts
40 upvotes
I feel the government is trying to make money off the market rather than cool it down or control it. These new checks and balances are designed to tax the buyer/seller through capital gains and more land transfer taxes.

If they wanted to slow down the market they would simply raise the interest rates quickly and in succession.
Lawyer @ Law Booth Real Estate Lawyers & Notaries
Deal Addict
Feb 9, 2009
3818 posts
1501 upvotes
lawbooth wrote:
May 19th, 2017 8:16 pm
I feel the government is trying to make money off the market rather than cool it down or control it. These new checks and balances are designed to tax the buyer/seller through capital gains and more land transfer taxes.

If they wanted to slow down the market they would simply raise the interest rates quickly and in succession.
gov't are crooks and we all know it whether bull or bear.
Member
Apr 10, 2017
222 posts
62 upvotes
lawbooth wrote:
May 19th, 2017 8:16 pm
I feel the government is trying to make money off the market rather than cool it down or control it. These new checks and balances are designed to tax the buyer/seller through capital gains and more land transfer taxes.

If they wanted to slow down the market they would simply raise the interest rates quickly and in succession.
I got chills up my spine when I heard the Finance Minister the other day re: reaction to the brokerage company who will pay the 15% foreign buyers penalty

It was something along the lines of "if they can afford to pay for it, go for it"

I thought it was something that people didn't want to here in the midst of this crazy market. Perhaps 15% isn't enough? I'm guessing 15% is just the right amount of "wiggle room" to still convince foreign investors to buy rather than discouraging them and lose potential revenue for the government.

Thanks for looking after us Liberal government :)
[OP]
Newbie
May 2, 2017
43 posts
40 upvotes
I think 15% is too much. Just wait and see. Foreigners are not idiots. Foreigners have lots of other choices better than paying 15% tax. I bet Land transfer tax revenue will decrease a lot.

The brokerage company just try to attract attention. It doesn't work.
Newbie
User avatar
Apr 5, 2017
54 posts
40 upvotes
Calvin140 wrote:
May 19th, 2017 11:19 pm
I think 15% is too much. Just wait and see. Foreigners are not idiots. Foreigners have lots of other choices better than paying 15% tax. I bet Land transfer tax revenue will decrease a lot.

The brokerage company just try to attract attention. It doesn't work.
True, they may start buying elsewhere in Canada or the world. People with money aren't short on options.
Lawyer @ Law Booth Real Estate Lawyers & Notaries
Deal Addict
Nov 2, 2013
4448 posts
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Edmonton, AB
lawbooth wrote:
May 21st, 2017 1:32 pm
True, they may start buying elsewhere in Canada or the world. People with money aren't short on options.
Already began happening. Here in Alberta close to the universities or in some other hot areas that stay hot regardless of economic conditions, foreigners have been knocking down old houses and building new ones to sell and/or rent out since they got so much cash to play with. Alberta is happy to see just a 4% YoY as many people don't want to live here- as consequence, rents are high relative to home prices, and investors capitalize in making money on projects many cash-starved locals can't or are afraid to finance. It's different than the GTA/GVA "just buy in at any cost, dump the kid(s) in it, and sell it later for more" mentality.

We don't have a land transfer tax and market is still somewhat in the buyer's favour.

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