(Thread IKs:
ZShakespeare)
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mila kunis posted:https://www.cbc.ca/news/politics/trudeau-housing-plan-1.6151154 lol the people who can't afford homes are likely folks who can't max out their RRSP and/or TFSA contributions either, so creating another tax-free account to not throw money into isn't going to do jack poo poo for the people that are really affected. just lmao
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Aug 24, 2021 23:39
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mila kunis posted:If the Liberals are re-elected on Sept. 20, Trudeau said, he would introduce a first home savings account which would allow Canadians up to age 40 to save $40,000 toward their first home and withdraw it tax-free when it comes time to buy. Money added to the account would go in tax-free and could be withdrawn without any taxes owing on possible investment gains. Oh so it's a TFSA, but limited to one specific use, and which will be next to useless for older millennials like myself who are turning 40 soon and still have no hope of being able to afford a home in a desireable location. Cool, awesome, thanks! This has some real "Pell Grant recipients who start a business that operates for three years in disadvantaged communities" energy.
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Aug 24, 2021 23:39
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eXXon posted:Oh so it's a TFSA, but limited to one specific use, and which will be next to useless for older millennials like myself who are turning 40 soon and still have no hope of being able to afford a home in a desireable location. Cool, awesome, thanks! I'd love to know what I could buy around here with $40k down and a $10k tax credit, because it looks a lot like either "nothing at all" or "a 350sq. ft. micro-condo with a kitchen compatible to a hotel suite"
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Aug 24, 2021 23:50
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think they'd let me use my 40k on a mobile home? i don't really want to live like that, but when the climate wars start it'll be an easier transition into a Mad Max style road warrior
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Aug 24, 2021 23:53
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Arc Hammer posted:Because I have a hard time accepting that our options are only "lovely status quo" and "even shittier status quo." Unfortunately our electoral system is FPTP, which nearly universally polarizes to two parties with a tendency for people to vote against their least favorite option, rather than for their most favorite option. I'm not sure how this can be fixed.
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Aug 25, 2021 00:00
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mila kunis posted:https://www.cbc.ca/news/politics/trudeau-housing-plan-1.6151154 So a tax break for all those self-made millenials featured in endless news stories with the "say it bart" meme of "actually their parents paid their down-payment."
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Aug 25, 2021 00:02
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lol gently caress this milquetoast garbage C- effort of a policy plan
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Aug 25, 2021 00:09
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Fart Amplifier posted:I'm not sure how this can be fixed. Remember that time the Liberals promised we has seen our last FPTP election if they won, and then they won that election? Man, that was wild.
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Aug 25, 2021 00:29
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Lol that was two elections ago now
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Aug 25, 2021 00:39
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Yes, it's like a lava lamp.
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mila kunis posted:https://www.cbc.ca/news/politics/trudeau-housing-plan-1.6151154 You didn't quote any of the things that might reduce house prices, or slow their increase, just the things that definitely won't. Not that this is the full communism now that this thread expects as the only reasonable housing platform, but I was actually surprised by some of the things they are offering up.
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Aug 25, 2021 01:16
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There has to be something more to that 40,000$ first home buying tax free account thing. It can't just be a TFSA made for under forty years old people that already maxed said TFSA. I guess if you are below 25 years old now and your TFSA ceiling is lower?
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Aug 25, 2021 01:43
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tbqf i'd be more interested in helping 41 year olds buy their first house than a 25 year old or whatever
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Aug 25, 2021 01:45
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Muscle Tracer posted:tbqf i'd be more interested in helping 41 year olds buy their first house than a 25 year old or whatever Look buddy our time has passed and we are ready to be put out to pasture.  e: I saw Jagmeet talking about nationalizing senior care homes. Unfortunately it was being criticized by a panel of CBC conservatives so I doubt it got any positive coverage anywhere despite it being absolutely necessary.
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Aug 25, 2021 01:54
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Muscle Tracer posted:tbqf i'd be more interested in helping 41 year olds buy their first house than a 25 year old or whatever Being 28 and having given up on ever owning a home in the current climate, I'd be fine with this so long as the apartment rental situation was also unfucked. Make it possible to rent a bachelor's apartment in good condition tor less than 90% of my monthly income. It's about as plausible as anything else the parties are throwing up as housing "solutions." Arc Hammer fucked around with this message at 02:04 on Aug 25, 2021 |
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Aug 25, 2021 02:02
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Only a big price drop will restore housing affordability. No federal party will acknowledge this I mean, they're right but it's a still one hell of a G&M headline.
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Aug 25, 2021 02:09
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Jesus Christ the libs are gonna lose, aren't they
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Aug 25, 2021 02:11
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Another Bill posted:Only a big price drop will restore housing affordability. No federal party will acknowledge this Whoa. Maybe someone spiked their water cooler with LSD
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Aug 25, 2021 02:13
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GonadTheBallbarian posted:Jesus Christ the libs are gonna lose, aren't they
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Aug 25, 2021 02:15
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My wife and I are in a situation now where we either move to Vancouver/Victoria/GTA, take a ~10k wage drop for her, and about double the rent, in addition to forgoing any chance at ever owning a house. Or we stay in a province where the government actively hates us, but we can possibly have a mortgage in the next 5 years or so, and hope that Kenney turbofucks himself into an ANDP victory.
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Aug 25, 2021 02:19
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So that's why people live in Alberta.
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Aug 25, 2021 02:22
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https://twitter.com/andraydomise/status/1430339133013118977 Just a garbage party with useless idiots allowed in.
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Aug 25, 2021 02:25
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Why is a line of credit more of a pain in the rear end to acquire than a personal loan.
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Aug 25, 2021 02:32
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What's your honour worth vs your capital?
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Aug 25, 2021 02:37
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Nothing and nothing. Hmm.. no wonder I'm not a homeowner.
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Aug 25, 2021 02:41
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Wulf posted:There has to be something more to that 40,000$ first home buying tax free account thing. It can't just be a TFSA made for under forty years old people that already maxed said TFSA. I guess if you are below 25 years old now and your TFSA ceiling is lower? Is the missing piece "try to sound like you're doing a lot while spending as little as possible"?
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Aug 25, 2021 02:53
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mila kunis posted:https://www.cbc.ca/news/politics/trudeau-housing-plan-1.6151154 They also promised to build 1.4 million homes, get rid of blind buying, and ban foreign investors, which is all in line with what other parties already promised. Will that trigger a price drop? I think the blind bidding ban sounds promising, and so does a significant increase in supply. But I feel like you have to be an absolute sucker if you expect the liberals to come through on those promises right now. Especially if they get a majority. Re: the homebuyers TFSA thing, is that significantly different from the first time homebuyers rrsp withdrawal plan? It sounds the same to me which makes me think I’m probably misunderstanding it. I only recently started contributing to my rrsp so this is all new to me. Starks fucked around with this message at 03:23 on Aug 25, 2021 |
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Aug 25, 2021 03:21
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Starks posted:They also promised to build 1.4 million homes, get rid of blind buying, and ban foreign investors, which is all in line with what other parties already promised. You have to pay back the RRSP withdrawal back into your RRSP in installments over 15 years otherwise you start paying penalties. This would be you can just take it out and add it to a downpayment, no payback required.
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Aug 25, 2021 03:27
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GonadTheBallbarian posted:Jesus Christ the libs are gonna lose, aren't they well you remember last time when the Conservatives got the highest popular vote (and a proportionate number of seats) but the "2nd place" Liberals formed a majority government because first past the poll system gifted them dozens of seats that could have have went to the NDP? You're going to hopefully end up with the same thing as last time where the CPC vote is highly concentrated in Alberta and Saskatchewan which gives them the popular vote but no shot of actually forming a majority government. Only question might be whether the Liberals are as over-represented in the Legislature in comparison to their popular vote this time around. I guess that will likely depend on if likely NDP voters in those polls get spooked by the prospect of a conservative government and leak to the Libs. Starsfan fucked around with this message at 03:31 on Aug 25, 2021 |
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Aug 25, 2021 03:28
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Starks posted:They also promised to build 1.4 million homes, get rid of blind buying, and ban foreign investors, which is all in line with what other parties already promised. This is the Liberals we're talking about. 1.4 million homes is probably just the current forecast for new construction over whatever the time frame is, plus maybe 5% on top. The policies to encourage home building will be some boutique bullshit tax credits and a developer subsidy. They'll study it in committee for 2-3 years if elected and end up doing nothing except maybe the developer subsidy in the first budget (gotta get shovels in the ground fast!).
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Aug 25, 2021 03:33
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Starks posted:Re: the homebuyers TFSA thing, is that significantly different from the first time homebuyers rrsp withdrawal plan? It sounds the same to me which makes me think I’m probably misunderstanding it. I only recently started contributing to my rrsp so this is all new to me. It's similar in that it's a lovely tax policy designed to be revenue neutral while propping up our housing market. The RRSP thing at least requires you to pay yourself back within a few years and doesn't have an arbitrary age limit, so it's a bit different in the details. Also, come say hi in the Canadian Finance and Investing Thread sometime!
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Aug 25, 2021 03:34
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pokeyman posted:It's similar in that it's a lovely tax policy designed to be revenue neutral while propping up our housing market. The RRSP thing at least requires you to pay yourself back within a few years and doesn't have an arbitrary age limit, so it's a bit different in the details. drat I didn't even know that was a thing. Thanks for the tip, will definitely take a look.
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Aug 25, 2021 04:20
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They didn't say they were going to build 1.4 million homes, but of course the media is happy to report on it that way.quote:You would have to dig into the Liberals’ news release to realize that they’re not promising to build 1.4 million new homes—that number includes units they would “build, preserve, or repair.” That's kind of a big caveat. Let's not forget that the last Liberal promise wrt spending on housing funneled a bunch of money into the CMHC who proceeded to do absolutely gently caress all with it. quote:In real terms, the report found that critical housing funding for low-income people is declining. Spending on new construction was delayed and less than promised. It reported that, of the $70 billion supposedly being spent, some 40 per cent is via loans and only 30 per cent is actually new money. It found that the plan has, since 2017, built just 63,000 new homes. I can't believe there are people here, after all these years, who even entertain the notion that the Liberal Party is going to do anything substantive about a single problem. Their promises of ending blind bidding and pausing foreign ownership are nothing more than regulator deck chair shuffling on the Titanic. It's not even within Federal jurisdiction, so good luck with that. Housing TFSA is hilariously regressive. A massive handout to people who don't need it, goosing housing demand even further, and hurting future government revenues. Absolutely laughable.
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Aug 25, 2021 04:27
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leftist heap posted:A massive handout to people who don't need it, goosing housing demand even further, and hurting future government revenues. Absolutely laughable. Ah, I see you're familiar with the Liberal party.
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Aug 25, 2021 04:38
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leftist heap posted:
I don’t know who you’re trying to dunk on here because I literally said that you’re dumb if you believe anything in their platform in my post. You’re right about the building promise though, and lol at how weasely it’s written. I don’t think the cons will keep their housing promise either, we all know how it goes when a party won’t shut up about the deficit while promising things that will cost money: “We looked at the books and it’s just not feasible”
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Aug 25, 2021 04:43
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Starks posted:I don’t know who you’re trying to dunk on here because I literally said that you’re dumb if you believe anything in their platform in my post. You’re right about the building promise though, and lol at how weasely it’s written. Not talking about you Tsyni posted:You didn't quote any of the things that might reduce house prices, or slow their increase, just the things that definitely won't. Not that this is the full communism now that this thread expects as the only reasonable housing platform, but I was actually surprised by some of the things they are offering up.
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Aug 25, 2021 04:50
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edit:  Starks posted:I don’t know who you’re trying to dunk on here because I literally said that you’re dumb if you believe anything in their platform in my post. You’re right about the building promise though, and lol at how weasely it’s written. I thought they were dunking on Tsyni posted:You didn't quote any of the things that might reduce house prices, or slow their increase, just the things that definitely won't. Not that this is the full communism now that this thread expects as the only reasonable housing platform, but I was actually surprised by some of the things they are offering up.
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Aug 25, 2021 04:50
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leftist heap posted:Not talking about you Fair enough, my bad
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Aug 25, 2021 04:52
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Drunk Canuck posted:https://twitter.com/andraydomise/status/1430339133013118977 I don’t agree with him on this but Randall Garrison did a lot of good work with me personally on Bill C-6. Would I vote for him on that basis? Yes.
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Aug 25, 2021 05:15
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https://twitter.com/xghostnotesx/status/1430259908348243971?s=20 LOL Kenney is a big fan of Freedland's granddaddy.
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Aug 25, 2021 05:23
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leftist heap posted:Not talking about you I have no faith in the Liberals and would never vote for them. I also don't think their plan is great, I just think it's intellectually dishonest to frame it the way the poster framed it. I am sure it wasn't on purpose. This thread just seems needlessly depressing at times.
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Aug 25, 2021 07:59
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