bble.
His comments come amid criticism directed at the Liberal government from opposition MPs, including Conservative finance critic Pierre Poilievre, who says Ottawa is contributing to a housing bubble. “It’s about much more the demand and supply response. So that again, is market factors including slow approvals – there’s a lack of coordination among municipal, provincial and federal governments and it’s hard for people to build houses. That’s one problem. The other problem is low rates make housing more attractive. Mortgage insurance makes it further attractive,” he said.
“Through all of this, I haven't heard a really comprehensive explanation of how we're going to build our economy for the future so that we create the prosperity that Canadians are going to need.”A key pillar of the Liberal’s national housing plan that targets supply is their proposal to invest $4 billion in a Housing Accelerator Fund, which they say will create 100,000 new middle-class homes in Canada’s largest cities by 2024-25.
“Let’s face it, that’s all government can really do on the supply side. It’s too much for a government to handle. We’re talking trillions of dollars in housing activity. It’s is a supply problem, but it’s not a supply problem the government can deal with on its own. It needs private sector support,” he said.Siddall says it’s time Canadians have the debate on whether to implement capital gains tax on primary residences, which he says could help minimize the housing inequality gap.
Source: Loan Digest (loandigest.net)
If the government taxes capital gains on principal residences, then they must allow mortgage interest deductions and depreciation just like “all other investments”. ewsiddall Taxation isn’t the solution. Look at the recreational homes market where interest isn’t tax deductible
Caused by outside the country money undermining our Society. Also bringing in refugees has also made it impossible for Canadains who have lived here years to afford a home with outside groups buting them up to fill with outsiders. Causing division and hate by neglegent so called.
We have a broken system incapable of having enough housing for millions who've lived here all their lives, let alone 100s of K new arrivals each year, degrading quality of life for millions of long-time residents,& new arrivals,both.Too few homes for too many people. Two problems
Nothing to see here. Just millions priced out of the market as realtors drive prices further out of reach.
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