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Ben Rabidoux tweeting that Ontario FinMin going to make an announcement next Monday. It's probably going to be first time buyer subsidies.
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Nov 9, 2016 21:14
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namaste faggots posted:Ben Rabidoux tweeting that Ontario FinMin going to make an announcement next Monday. It's probably going to be first time buyer subsidies. Its going to be an 'attainable homes' / low income subsidized housing project.
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Nov 9, 2016 22:19
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FinMin going to partner with mogo to offer Canadian First Time buyers a PPP funded Rent-to-Own scheme
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Nov 9, 2016 22:31
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My money's on some kind of rebate tied to down payment borrowing.
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Nov 10, 2016 00:14
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My guess is that whatever it is will immediately be factored into prices.
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Nov 10, 2016 00:55
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Expect garbage short term policy that backfires long term.
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Nov 10, 2016 01:23
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cowofwar posted:Expect garbage short term policy that backfires long term. ontario.txt. Though if you wanted to be a bit more meta it's also an equally valid for politics.txt or human_condition.txt.
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Nov 10, 2016 02:30
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Myriarch posted:Possibly the only good thing to come out of this is that the dollar is going to collapse which should run up inflation in the US which will finally force the feds to raise rates much quicker. Why do we want higher interest rates again? If that leads to higher interest rates in Canada then half the country won't be able to pay their mortgage. Besides the "gently caress home owners" angle of course.
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Nov 10, 2016 02:45
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Yeah you guys don't get why interest rates are being ~manipulated~ by faceless evil central bankers
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Nov 10, 2016 03:25
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make interest/usury illegal, imo
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Nov 10, 2016 03:43
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large hands posted:make interest/usury illegal, imo
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Nov 10, 2016 03:58
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Myriarch posted:Possibly the only good thing to come out of this is that the dollar is going to collapse which should run up inflation in the US which will finally force the feds to raise rates much quicker. Orange Swan.
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Nov 10, 2016 04:32
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https://twitter.com/MarkDiStef/status/796587922564608000
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Nov 10, 2016 07:08
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All bad things happening are in fact good for
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Nov 10, 2016 07:21
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The differences between Australia and Canada are getting smaller and its starting to scare me.
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Nov 10, 2016 07:27
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Franks Happy Place posted:Orange Swan.
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Nov 10, 2016 07:40
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AMERICANS are already flocking to the Australian property market following the shock US federal election result which saw Donald Trump win the presidency. American property website Realtor.coms International site saw traffic hit a high of 7000 pages views at 5am Australian time this morning up more than 500 per cent from the same time the week before. During the three days leading up to the election, Realestate.com.au had also seen a 21 per cent surge in searches made from people with US IP addresses. Sydney was the most searched for city followed by Adelaide and Melbourne. The most searches came from California and New York both Clinton strongholds. Realtor.com also saw a spike in searches from Americans looking for property in Canada, Mexico and Jamaica. REA Group chief economist Nerid Conisbee said it was interesting to note the top searches were coming from California a state that overwhelmingly preferred Clinton. The election result and the uncertainty created is likely to be concerning many people in the US. The US is one of the countries most frequently searching our site and this result is similar to what happened with searches from the UK following Brexit, Ms Consibee said. Realtor.com chief economist Jonathan Smoke said the lead-up to the election had not impacted local home sales or demand. However, if the outcome has a big impact on financial markets that lasts more than a few days, we could see some disruption beyond the usual seasonal decline, Mr Smoke said.
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Nov 10, 2016 07:55
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UnfortunateSexFart posted:Why do we want higher interest rates again? If that leads to higher interest rates in Canada then half the country won't be able to pay their mortgage. Canadians ramp up their debt, encouraged by low interest rates, new report finds quote:Non-mortgage debt rose to an average of $21,686 per person at the end of the third quarter. It was up 2.3 per cent from a year ago. quote:700,000 Canadians may not be able to absorb even a quarter of a point interest rate hike. Up to one million consumers could be impacted by a full one percentage point rate hike. Over $20k per person of non-mortgage debt. 
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Nov 10, 2016 17:41
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McGavin posted:Canadians ramp up their debt, encouraged by low interest rates, new report finds Keep in mind that's average. Many Canadians like us have none. I hate averages.
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Nov 10, 2016 17:45
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McGavin posted:Over $20k per person of non-mortgage debt. How much of that is secured, such as a car loan?
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Nov 10, 2016 17:52
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Met a couple last night that both bought 35k Subaru's on just above minimum wage jobs and then consolidated their car loans together. I'd like to think these people represent the average Canadian.
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Nov 10, 2016 17:52
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I wonder if a better measure than dollars would be "months of after tax income". Like the opposite of a runway, call it a ditch.
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Nov 10, 2016 17:55
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People in HR at the hospital I just left had HOOPP pensions and really above average wages for the area nad were constantly talking about how broke they were. When I told them I drive a 16-year-old car I bought used it was like I had grown a second head. They would never buy a used car, or used anything. Two Timmies coffees a day and eat out for lunch. My boss got her promotion and less than two months later closed on a cottage. That's the average Canadian.
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Nov 10, 2016 18:03
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DariusLikewise posted:Met a couple last night that both bought 35k Subaru's on just above minimum wage jobs and then consolidated their car loans together. I'd like to think these people represent the average Canadian. The combo mortgage-helocs are popular in the car community here. One guy bought a Merc C63 with his HELOC because the (variable) interest rate was lower than the dealership offered.
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Nov 10, 2016 18:03
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McGavin posted:Canadians ramp up their debt, encouraged by low interest rates, new report finds Are we talking consumer debt or anything that isn't a mortgage? Because I still owe about 20 grand on my student loan. I could pay it off, but I'd rather stick that in a TFSA where the rate of return is beating the after-tax (and hopefullly even pre-tax deductible) rate on my loan.
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Nov 10, 2016 18:14
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Seat Safety Switch posted:The combo mortgage-helocs are popular in the car community here. Guys, you have no right to tell people what to do with their disposable income
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Nov 10, 2016 18:21
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Not allowed to judge others
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Nov 10, 2016 18:21
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Home "owners"
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Nov 10, 2016 18:23
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peter banana posted:People in HR at the hospital I just left had HOOPP pensions and really above average wages for the area nad were constantly talking about how broke they were. When I told them I drive a 16-year-old car I bought used it was like I had grown a second head. They would never buy a used car, or used anything. Two Timmies coffees a day and eat out for lunch. My boss got her promotion and less than two months later closed on a cottage. Collingwood G&M or Georgian Bay General? 
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Nov 10, 2016 19:51
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Furnaceface posted:Collingwood G&M or Georgian Bay General? Come on now, honey, it was RVH. That's obviously some Barrie-area behaviour.
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Nov 10, 2016 20:15
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peter banana posted:Come on now, honey, it was RVH. That's obviously some Barrie-area behaviour. I wish that behaviour was Barrie-only. It would make me feel better knowing I could move away from it. Newmarket is somehow worse in this regard. 
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Nov 10, 2016 20:31
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Well, $10000 a day fine on empty homes in Vancouver.
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Nov 10, 2016 21:16
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you really got my hopes up, but it's 10k/year unless you, for some reason, lie
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Nov 10, 2016 21:29
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JawKnee posted:you really got my hopes up, but it's 10k/year unless you, for some reason, lie Well, yeah, I'm betting the catch a few though.
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Nov 10, 2016 21:40
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Seat Safety Switch posted:The combo mortgage-helocs are popular in the car community here. The best part is they didn't even own a house, they were renting.
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Nov 10, 2016 21:39
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quote:Principal homes, as well as properties that are rented for at least six months of the year on 30-day minimum leases, wont be taxed.
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Nov 10, 2016 22:41
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quote:The city will allow certain exemptions to ensure that most homeowners who are Vancouver residents, including those who spend their winters at nearby ski resorts, wont be affected. Principal homes, as well as properties that are rented for at least six months of the year on 30-day minimum leases, wont be taxed. This seems more like a measure against full time AirBNB units than speculators. I would imagine most of them have family members to title the homes under as a primary residence, and $10,000 a year is like 10% of the yearly increase in value.
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Nov 10, 2016 22:46
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Fines never seem to be in line and always fall behind inflation. Most fines should be tied to something else, like the fine for housing related things being a percentage of the value of the house. Also more fines based on a person's net worth. That dude in switzerland who got a 100k speeding ticket is an inspiration.
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Nov 10, 2016 22:51
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$10,000 cost of doing business for who people spend $10,000 on a night out.
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Nov 10, 2016 23:37
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Baronjutter posted:Fines never seem to be in line and always fall behind inflation. Most fines should be tied to something else, like the fine for housing related things being a percentage of the value of the house. Also more fines based on a person's net worth. That dude in switzerland who got a 100k speeding ticket is an inspiration. From the article I read it sounded like the compliance tax was 1%. Everyone is throwing around $10,000 because it was based around a hypothetical $1 million property and all the reporters are just copy-pasting. quote:Canadas most-expensive property market, suffering from a near-zero supply of rental homes, announced the details of a new tax aimed at prodding absentee landlords into making their properties available for lease. The empty-home tax will take effect by Jan. 1 and will be calculated at 1 percent of the propertys assessed value, Vancouver Mayor Gregor Robertson told reporters at City Hall. The fine is definitely "up to" $10K/day though: quote:Homeowners will self-declare whether their property is a principal residence or a secondary investment. People who pay the new tax late will face a 5 percent penalty, while those who dont declare will automatically be taxed. Falsely declaring that a home is occupied or that its a principal residence could lead to a maximum fine of C$10,000 a day for as long as the offense continues, according to the mayors office. So yeah, if 1%/yr of your property is less than $10,000/day, uh, go nuts.
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Nov 10, 2016 23:52
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