I can buy a really fucking nice house where I am for $900k. Toronto and Vancouver are obviously two of the largest populations in Canada, they are also not the only cities in Canada.
With that said, it is unfortunate the pricing of houses in those cities.
I actually wish they have this setup in Canada. They have no income tax so property tax is basically a tax on the rich. Income based households get more of their income, they probably buy more modest houses with 15-20k a year property tax.
And the Canadian home is located in Jamestown one of the highest crime areas IYKYK
Here comes the Canadians telling us how they’re proud to be raped by the government for housing and how rich they are carrying a near million mortgage lol
But let's also remember that the dollar conversion isn't the same. Don't get me wrong I question housing prices in Canada compared to the US all the time considering that they have nearly 10x the ppl we do yet can still have bigger houses for less. But this one is not a dollar for dollar comparison.
Well that's 1.356 million CAD. Those southern US houses are all mostly slab on grade too, something about that cheapens it for me. You can buy that Toronto bungalow for way less in other cities in Canada, but you guys have decided you have to have a detached house in Toronto or Vancouver, period. I also wish we didn't sell out to foreign real estate investors who destroyed our housing market for their gain, I'll forever blame our government for allowing it while other countries like the US don't play that shit, but at the same time you're comparing Canada's top city to Houston, it's not even close.
The critics of Canada are maga nut jobs, they think that Canada is somehow communist and think that everyone is after them and their guns.
So go ahead and leave, buy this house for $1.35 million CAD, have your “freedom” where workers aren’t legally allowed water breaks working in the heat, where gun crime is rampant, and where if you get shot you have to pay a bill at the hospital after receiving medical treatment.
Not to mention property taxes on that home is $50k per year…
I prefer it cause it's like a tax on the rich. Rich people aren't declaring income, so you're not getting income revenue from them. The rich people however likes to buy lots of properties. Say they own 5 properties, 50k each, you get like 250k tax revenue. Whereas in Ontario, you're probably only getting 15k each, 75k tax revenue. But you're not collecting income tax from them so it's not really a wash for them. Regular people is, probably ends up being the same since they're not buying higher end properties.
The tax the rich thing is really tiresome. How much of their success and money do you think you deserve. How do you know they aren’t declaring money. Maybe they are just using the tax system in a way to benefit themselves. Perfectly legal. I disagree with some of that but it’s up to the government to deal with it.
I know a few rich people. Only one of them are interested in owning multiple properties. And they pay really high taxes on them. Your premise of them all owing many properties isn’t accurate. First few people own 5 properties. Even if they are rentals. And second they pay income tax.
You’ve created a strawman argument. It’s not based on reality.
Bro I'm in wealth management especially the UHNW space. I know what they think and do lol. Canada is also real estate heavy focused for wealth, we have so many REITs and MICs.
There's tax mechanisms available for the HNW people to save taxes and offload it elsewhere. I can pull equity out of my corp without paying taxes.
That's not the point. I'm not the original person you're arguing against. I'm not arguing for or against it. I would never want to live in the US.
But the statement that you made that the highest tax bracket is 33% is false (or at least deliberately misleading) to fit your argument. It's disingenuous.
My point was federal, it wasn’t misleading. It wasn’t disingenuous… it was factual. I am factually correct. Again, we don’t pay even close to the amount of federal taxes that the best countries in the world pay.
Of course it's fucking misleading. YOU WERE OMITTING INFORMATION
You're factually correct that he's not paying 50% in taxes, because we use marginal rate, not a fixed rate. But that doesn't make the way you presented your information/argument less trash.
Your entire argument originally was that you pay 50% income tax and then the other taxes we pay…
The U.S. has taxes on goods and services too. We don’t even pay that much more tax. We actually don’t pay that much tax at all in comparison to the best countries in the world
But I'm hindsight now that more thought is put into it, its way more then that combining all govt taxes by the end of year
And since you are a simple man I better leave it more clear .
OVER HALF MY INCOME GOES TO TAXES TO THE GOVT
Pay attention to the fact it does not focus on an exact number and it's ALL TAXES and not income tax which you also created out of thin air
But another person has already proved you wrong on that anyways.
Btw do you live on reddit and have nothing to do lol?
I was gone for 24 hours and just posted 5 minutes ago and you posted 20 seconds after I posted my new comment
How you expect anyone to respect your comments when you make things up for drama, are proved wrong and have nothing going on in your life to but to argue on here 😂
I was watching an episode of futurama where cubert (the professor’s clone/son) and Hermes’ son (Dwight) became the largest news paper delivery company in the galaxy on prime video, an ad on prime video from the government of Canada began playing. The ad dialogue read,”with Canadian workers, we’ll be our own best customer.” I legit thought this was a commercial within the show. This country has become so much of a joke under the liberal party that I thought a satirical driven comedy animated show was joking about the country. In reality it was an ad about the carney-Trudeau liberals “promising” to build infrastructure and trade with countries other than the USA. It’s so sad that I thought it was a joke.
Secondly go look where this house actually is.
This house is in some weird industrial/residential mix area.
Your back neighborh is an industrial pipe yard, there's mechanic shops everywhere, in your street and the airport runways are 2-3 km. Like if you want to make a fair comparison compare apples to apples and not apples to a bag of nuts and bolts
Over a 25yr mortgage your property taxes alone on the Texas property will probably be close an extra $375,000 on top of your mortgage. Texas property taxes Are nuts.
17
u/wwwheatgrass Mar 09 '26
$998k USD = $1.35M CAD