While it’s taken a while for young and old to realize it, top bankers, retired civil servants, housing analysts, former property developers and housing activists are now declaring the Liberals are directly causing house-price inflation.Sign up to know what's really happening by reading daily editorials and commentary by British Columbia's opinion leadersBy clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
As housing analyst Stephen Punwasi puts it: “When interest rates began to climb, they throttled credit and brought home prices lower. However, less than a year later is demonstrating it doesn’t have the appetite to follow through on tough love.”Article content Let’s look at how and why the Liberals — who have overseen the doubling of Canadian house prices since they came to power eight years ago — are still jacking up the cost of a home.2019 Trudeau first announced a tax on homes owned by foreign buyersHe ignored his attention-grabbing vow until the campaign of 2021, when he repeated it. Finally, on Jan. 1, 2023, the prime minister scrambled together a mishmash of legislation.
, the Liberal government backtracked on even that watered-down attempt to look decisive about the dangers of foreign capital in Canada’s extremely unaffordable urban housing markets. The government declared the “ban” basically wouldn’t apply to commercial investors or foreign nationals on work visas.
Developer profit is a part: A block is demolished 4 redevelopment, with it a restaurant, a server & friend is out of work Old man I met, mid 80s, learns his apartment home was 40 yr leased, up that month & rightly worried he may be out Info can be prowled 4 profit It came my way
The CCP runs Canada. Canadian real estate is now reserved for the rich Chinese who need to launder money. All part of trudeau's plan.
What a load of tripe.
Housing inventory values will always be pulled along by the increasing cost to build new homes. Building costs are amplified by multiple layers and increasing rates of taxation. Who will build if they can buy existing & reno for less? That drives up demand & price for existing
Hell, they elected the Granville flipper... what did you expect. Pensions over people.
So says the leader of NIMBY
no kidding
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