[Newsbot]

Title: CMHC to issue first �red� warning for Canada�s housing market
Category: Misc CDN
Posted By: shockedcanadian
Date: 2016-10-17 09:37:42
Canadian

[shockedcanadian]

Toronto and Vancouver first. The fallout should be interesting...

In short, red means "bad".

[BartSimpson]

$1:

Ottawa is also closing tax loopholes used by some foreign buyers.

What 'loopholes'????

I pay throught the friggin' NOSE on property taxes in Victoria!!! I don't get no friggin' 'loopholes'!!!!!

[martin14]

shockedcanadian shockedcanadian:

Toronto and Vancouver first. The fallout should be interesting...

In short, red means "bad".

That 15% Chinese tax on foreign buyers in Vancouver seems to have done the trick.

It killed the market.


Toronto council thinking of doing the same.


Enjoy the ride, sell it now if you got it.

[shockedcanadian]

BartSimpson BartSimpson:

$1:

Ottawa is also closing tax loopholes used by some foreign buyers.

What 'loopholes'????

I pay throught the friggin' NOSE on property taxes in Victoria!!! I don't get no friggin' 'loopholes'!!!!!

You're an American, you don't need loopholes, you are engaged in the free market.

[Freakinoldguy]

martin14 martin14:

shockedcanadian shockedcanadian:

Toronto and Vancouver first. The fallout should be interesting...

In short, red means "bad".

That 15% Chinese tax on foreign buyers in Vancouver seems to have done the trick.

It killed the market.


Toronto council thinking of doing the same.


Enjoy the ride, sell it now if you got it.

It's okay though. I now have some nice Chinese neighbours behind me and beside me so it would appear that crispie's plan to spread the misery around to all of BC is off to a great start.

But on the plus side if you're one of the "foreign" home buyers who happens to be of a specific ethnicity all you or your relatives have to do is wait about 50 years and you'll receive the prerequisite apology and lump sum payment from the Federal and Provincial Governments for their racist policies regarding your rights to drive up Canadian home prices.