Real Estate

TD and BMO: Toronto housing prices "simply unsustainable" and a "bubble"

  • Last Updated:
  • Mar 20th, 2017 10:09 pm
Deal Addict
Nov 26, 2005
3064 posts
233 upvotes
spike1128 wrote:
Mar 18th, 2017 10:36 pm
The government is going to stop to insure the mortgages through CMHC. If one has not 20% down payment, they have no business buying a house. Banks were giving out loans because they won't be on the hook if things go bad. The banks are starting to run scared, and will pass the additional risk to the borrowers in the form of higher interest.
i think they just stopped that plan in quiet... banks are making profit and their share price is way up from a year ago. RBC is up 36% yoy.
Deal Addict
Nov 26, 2005
3064 posts
233 upvotes
Jungle wrote:
Mar 20th, 2017 9:56 pm
Too much socialism, social benefits and tax abuse have really hurt our productivity and economic potential. It can also provide little incentive for growth, abuse from gov on taxpayers, and rewards risk in the wrong ways.

For example, have three kids and collect thousands in child tax benefit? use the welfare and low income benefits. ( this is actually a strategy many use now)

As an entrepreneur, innovator, business owner, why take a risk or work so hard, ( and be taxed high) when you can buy a house and make the same money almost doing nothing with a system that rewards this tax free no risk so highly?

Why build a factory, oil, or global operation expansion into Canada, when the corp tax rates will be cheaper in USA once Trump cuts? + now we have carbon tax.

I don't buy the quality of life is better in Canada, if anything there is more opportunity in America then just being comfortable and the GOV providing everything for you.
unless you are talking about big money, if you are just a small business making under 500k, tax rate in BC for corp is 13%, vs in the states 26% (not sure about trump's tax cut)

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