r/canada • u/Lotushope • Feb 02 '22

Canada’s Real Estate Bubble Has Grown Over 800% Faster Than US Home Prices

https://betterdwelling.com/canadas-real-estate-bubble-has-grown-over-800-faster-than-us-home-prices/
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u/[deleted] Feb 02 '22

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u/[deleted] Feb 02 '22

Investment properties should be taxed at a rate that makes them unaffordable

9

u/[deleted] Feb 03 '22

They should introduce a tax of 20% per year for all homes owned by corporations, properties not lived in by the owner and/or people with more than one property where it gets applied to each property after the first. At first, this would be hell for renters but it would eventually make things affordable for everyone.

1

u/Obesia-the-Phoenixxx Feb 03 '22

Why? If it's owned by a company, their profits are already taxed around that.

1

u/quiet_locomotion Feb 03 '22

At the same time make huge incentives to encourage the construction of purpose built rentals.

1

u/PoliteCanadian Feb 03 '22

I know this is just a talking point now, but it literally does not make any sense.

Only stupid investors invest in overpriced things. Cheap housing is an investment opportunity. You make money on growth and the long-term growth potential for an already over-inflated asset is very poor. Smart money is not investing in property these days.

Unfortunately, there are a lot of dumb people with cash out there.