Yeah, this doesn’t sound so good. Hopefully renovations can be deducted. Not many would have kept receipts for that though.
This is my friend’s theory. That they will tax the homes.
People will mortgage them to pay the tax, but still get to live in them. Not sell.
Not unless there are some container homes or vacant condos waiting around.
The homes won’t be passed down to Gen Z. It’s just like Blackrock in the US owning whole streets.
“You will own nothing and you will be happy.”
Seems like Canada’s housing market was inflated just for this scheme. Notice this will harm Canadian citizens. There’s a hold on foreign ownership for now, so that they don’t get caught up in the scheme.
Yeah, this doesn’t sound so good. Hopefully renovations can be deducted. Not many would have kept receipts for that though.
This is my friend’s theory. That they will tax the homes. People will mortgage them to pay the tax, but still get to live in them. Not sell. Not unless there are some container homes or vacant condos waiting around.
The homes won’t be passed down to Gen Z. It’s just like Blackrock in the US owning whole streets. “You will own nothing and you will be happy.”
Seems like Canada’s housing market was inflated just for this scheme. Notice this will harm Canadian citizens. There’s a hold on foreign ownership for now, so that they don’t get caught up in the scheme.