Ramping back on the foreign buyer tax

Christy Clark has said that the province intends to make some changes to the foreign buyer tax, exempting those with work permits.  No word yet on if there will be a limit on the number of properties that are exempt.

Clark made the comments Sunday while speaking to reporters at a Lunar New Year event in Vancouver.

“We’re going to lift the foreign owners tax on people who have work permits, who are paying taxes and living in British Columbia as a way to encourage more people to come.”

Clark did not elaborate on the proposed changes.

Read the original article here.

 

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bullwhip29
Guest
bullwhip29

each individual will be limited to three and their spouses an additional three

Oracle
Guest
Oracle
These will be remembered as the good old days in housing. What is going to happen is the detached home and other landowners are going to be the ones that are wealthy. And they will call the shots via owned media. Watch BC Liberals win in a landdslide. The landless (renters) are the working class and are going to increasingly face higher taxes to service the increasing number of. We wealthy residents here who have little income. The working class will face watered down working conditions so they can ‘compete’ with the coming CFT deal (China Free Trade). Not only will workers have to drastically lower their standard of living but they will have their time taken up working for menial jobs even on weekends. Soon after, the divisions between haves and have nots will be so appart that the… Read more »
bullwhip29
Guest
bullwhip29

and here’s a question…

will recent buyers that qualify under the new proposed rules get a refund? and what about the poor schmuck that dropped his asking price and whacked the bid? my guess is the latter is $hit out of luck…while selected buyers will be receiving a nice new years gift

bullwhip29
Guest
bullwhip29

http://globalnews.ca/news/3215033/no-timeline-set-for-changes-to-foreign-buyers-tax/

“…the finance ministry says in a statement that details of the regulations are still being worked out, including when the new policy will come into effect and whether it will retroactively cover people with work permits who have already paid the tax.”

>>> imagine if retroactive to aug 2/16???……LOL

Screwed
Guest
Screwed

Is China doing anything with outflow????

Oracle
Guest
Oracle

The world is not what it seems. Schooling to blame for your altruistic view.

Free for all even in China to get the $$$$. Get enough and you’re set for 3-4 generations down the road. Even officials in on it. Don’t be so naive and read ‘headlines’.

Everyone for themselves now.

Just me
Guest
Just me

Well, they seem to be doing more than Canada is doing lately. We positively invite money launderers to set up shop here and we call that investment!

Oracle
Guest
Oracle

This boils down to Globalists vs Nationalists.

Gloablists have all the levers of powers as can be seen by MSM coverage.

It’s all good as long as free trade includes the free movement of people. If we have NAFTA, then we should be able to move to California.

The gov here in Canada is holding us hostage while being a doormat for mass immigration from around the world.

Bear Vancouverite
Member
Bear Vancouverite

This is just another betrayal and flip flop by Christy Clark. I can hardly believe how strong YVR and some others hate of the NDP is to continue wanting to support her despite all evidence that she has betrayed and done more harm to working locals than the NDP has ever done.

YVR
Guest
YVR

I am not supporting anyone. Just pointing out the NDP support this change including reimbursing the tax to those who already paid it. In fact they drafted this legislation back in August. It is absurd to me that the NDP opposes everything the Liberals do but this.

patriotz
Member

How about mentioning that the NDP preferred a more comprehensive approach (and introduced a bill) which would impose a tax not only on foreign buyers, but on anyone or any entity not paying an appropriate level of income tax?

Just me
Guest
Just me

I read somewhere they tried to get the bill discussed 4 or 5 times. Each single time the BC Libs did not even consider it.

Progressive taxation of housing values is anathema to them. It is, after all, the main industry in the province and the main source of political consensus from local homeowners.

The difference between rich homeowners and poor renters is that the formers are much more disciplined at voting on polling day.

YVR
Guest
YVR

“How about mentioning that the NDP preferred a more comprehensive approach”

I am just quoting the NDP. They do not mention anything about a comprehensive approach just they agree with it.

Housing critic David Eby said the NDP had proposed a similar exemption seven months ago when the tax first came into effect but the B.C. Liberals voted against the motion.

http://vancouversun.com/news/local-news/b-c-premier-christy-clark-lifts-foreign-buyers-tax-for-those-with-work-permits

Just me
Guest
Just me

Please, can someone retrieve that bill proposal for comprehensive changes to the taxation of RE that was tabled in the legislature? Perhaps YVR will stop posting the same sentence after seeing the actual document of the legislation proposed by the NDP.

If you think the NDP would be equally friendly to developers and land iwners, you really are delusional.

patriotz
Member

http://globalnews.ca/news/2585145/b-c-ndp-proposes-new-housing-crisis-laws/

https://www.leg.bc.ca/parliamentary-business/legislation-debates-proceedings/40th-parliament/5th-session/bills/first-reading/m209-1

Note these proposals were introduced in March 2016, months before Christy brought in her now-eroding foreign buyers tax. Also note the 2% tax is annual.

Just me
Guest
Just me

Are you dumb or do you like to play it? The NDP has repeatedly said they would change the rules of the game for RE, and especially for multiple properties’ taxation and carrying costs.
You must have some serious political aversions to ignore what is happening and keep voting for that woman and her clan of fraudsters.

Oracle
Guest
Oracle

Your fighting futile battle with newcomer and YVR. Paid CC minions.

Newcomer
Member
Newcomer

That is PCR, not CC. Nobody has said CC since Nixon’s visit. I’m not going to be able to report very favorably about you to the Committee.

Best place on meth
Guest
Best place on meth

CC is Christy Clark or Communist China?

Never mind, I just realized the difference is barely perceptible.

Newcomer
Member
Newcomer

Oh, duh. I’m such an idiot, I never thought to hit her up. But I’ll get on it now.

YVR
Guest
YVR

This whole thing was the NDPs idea. The Liberals just stole it. I disagree with it but fact is the NDP is on record with this:

Housing critic David Eby said the NDP had proposed a similar exemption seven months ago

I would like to see the NDP would stand up against this but they won’t. Don’t blame me. Personally I dislike both parties.

Newcomer
Member
Newcomer

I’m not a fan of the NDP, but the guys are right here. You are misstating the facts, even though they have been pointed out to you on numerous occasions.

Bear Vancouverite
Member
Bear Vancouverite
There’s a right way and a wrong way to make this fair. Here’s the right way: 1) The exemption should be in the form of a rebate, not an automatic exemption. The buyer gets the rebate upon supplying documentation, meeting all the criteria listed here, and applying for the refund. This only applies to buyers who buy after the new exemption rules kick in, there will be no retroactive reimbursements. 2) Don’t exempt all foreigners with work permits, exempt those with work permits + have at least 1 year of declared and taxed T4 income. New foreigners can wait 1 year to qualify. 3) Limit the exempt amount to 6x declared T4 income as a “means” test. 4) Limit the exemption to a maximum $ amount, say $750k. 5) Selling the property within 2 years triggers an immediate repeal of… Read more »
Just me
Guest
Just me

All good points. All equal likely to be ignored by Christy and her happy band of millionaire developers.

Oracle
Guest
Oracle
yvr2zrh Member yvr2zrh Looking at the changes to the FBT I would say that the general concept to exempt the people with work permits is a good idea. However, the following needs to be applied. 1.) Only one property can be purchased without the tax applying. (i.e. – you need somewhere to live and that is why we are exempting you – – not so you can become the latest property speculator). 2.) Students who are here and not on work permits – do not have work permits – and are not exempt. Students can rent- that’s what students do – and if you want to buy – – then pay the tax. Will be interesting to see how this goes. ——– Students will be able to buy without tax. Otherwise no point in eyes of CC. SJW have a… Read more »
Abdul Lahazi
Guest
Abdul Lahazi

http://www.wreckedexotics.com/accident/22461?c=wu774
Absolutely nothing to do with housing or real estate but read the description. LOL.

Best place on meth
Guest
Best place on meth

“Jessica Liu from Canada….”

Yeah, from Canada my ass.

Combat roach
Guest
Combat roach

Whatever…

Real estate brokerage data says Vancouver home sale price averages dip below $1-million

http://www.cknw.com/2017/01/29/267389/

bullwhip29
Guest
bullwhip29

New play ‘Crawlspace’ takes comedic look at Vancouver’s housing crunch
http://globalnews.ca/video/3215408/new-play-crawlspace-takes-comedic-look-at-vancouvers-housing-crunch/

Newcomer
Member
Newcomer

Are we all agreed that a strong upswing in sales and prices in the next month shows that foreign investment is probably the dominant driver and that continued slow sales and falling prices shows that it was not the dominant driver?

YVR
Guest
YVR

Foreign investment is done. No one wants to catch a falling knife including foreigners. Prices will continue to plummet.

Combat roach
Guest
Combat roach

We are quite screwed here with proportions of HAM impact, therefore, people are afraid with the reason. Same kind of fear and animosity people had after WWII when it came to Germans.

Just me
Guest
Just me

Absolutely not agreed. This test would be not even good enough for a newspaper article.
If outflows from China were held constant over time, perhaps you could construe an argument to that effect. And even then you would have to account for the many confounding effects.

Having said that, the current changes might have long-term effects, as it will become clear whether the share of people buying on work permits changes and their nationality. Very imperfect data, admittedly, but this is what they feed us.

patriotz
Member

“it will become clear whether the share of people buying on work permits changes and their nationality. ”

Only if Christy chooses to break out this category. Otherwise they will just be lumped in with those not paying the tax, i.e. citizens and PR.

Just me
Guest
Just me

They tend to be pretty cagey in their press conferences. I am never quite sure, for example, how strict is the requirement to report nationality and whether they can force the reporting or not.

Some times I have the impression that they use a semi-voluntary system. Not quite a honor system, but a report mechanism with little bite. And they are OK if your realtor fills it in for you…

Newcomer
Member
Newcomer

I can’t say that I am surprised. Your handle actually says it all. The only source of data you accept is your own opinion. Any other data you dismiss, any test, you refuse.

https://en.wikipedia.org/wiki/Falsifiability

Just me
Guest
Just me

You can put on a patina of Popperian scientificity. But the test you proposed makes no sense. Hopefully your occupation is not in science. If it is, well, good luck.

Newcomer
Member
Newcomer

Rest assured, what we do in the comments section of this blog is not science.

Newcomer
Member
Newcomer

But I do like, “patina of Popperian !”

Bear Vancouverite
Member
Bear Vancouverite
This is illogical and has multiple holes. 1) You’re making an assumption that foreign investment will buy no matter what, certainly a declining price trend might give all investors (foreign or not) some pause, so lack of upswing from this exemption is not proof of any foreign money thesis on either side of the argument. 2) You’re assuming that the biggest or only component of foreign money has been acting via local agents who would now be exempt by the new rule. So suddenly 100% of foreign money that held back from the tax would now be able to act? Not only is this illogical, there was never any claim made that foreign money was coming in through people who have work permits. If anything, some people believe the smallest component of foreign investor would be those who had any… Read more »
Newcomer
Member
Newcomer

It has multiple holes, but it is not illogical. Making assumptions is not illogical. In fact, you cannot practice logic without assumptions.

I’m mostly having fun here, but I should point out that, while you may not have made that claim about temporary residents, many others have. (You are one of the few sane people who argue that money from China is the major driver.)

Combat roach
Guest
Combat roach

I am confused, I thought you are serious. How are you having fun when you keep moderating posts and advising people what not to post here and leave? Have you noticed that you just insulted quite a number of people while pointing collective sanity of VCI posters? If you keep advocating for politeness and restraint please do behave accordingly.

Newcomer
Member
Newcomer

It is, in fact, possible to have fun, while staying on topic. Where you never on a debating team, or a sports team, or anything like that?

Stratahacker
Guest
Stratahacker

Yes. What you are doing is called trolling.

MarKoz
Member
Active Member
Not enough information. Christy doesn’t want you to have that information. I am a guy who until 2 years ago thought that foreign investment was a small, but important, part of the picture. The last 2 years made me change my mind. Unless we know how much investment came in through the IIP and QIIP (can’t collect data retroactively) we can’t really make a judgment. We had Chinese investment in 2008 but the market still tanked (and well before the financial crisis). Government refusal to collect vital data means we are all making (un)educated guesses about where the money is coming from that is driving the market. I think we can all agree that local income earners relying on rock bottom interest rates and huge mortgages and foreign money have an impact. The trouble is that no one has the… Read more »
Just me
Guest
Just me

Agree 100%.
I would also add that keeping the same party in power for 20 years is recipe for disaster. No matter what the party.
It is just human nature.

Newcomer
Member
Newcomer

Yes, you are right.

Combat roach
Guest
Combat roach

It is exciting to see how this bozo the clown uses every opportunity to pitch in and promote himself without seriously thinking all things through. I guess he is making it up now for recent snow crisis and his stellar engagement…

http://www.voiceonline.com/vancouver-mayor-gregor-robertson-im-proud-to-welcome-refugees-and-new-canadians-to-our-city/

Abdul Lahazi
Guest
Abdul Lahazi

Gregor is all useless talk and no useful action. If we have the “big one” he will be on vacation.

Bear Vancouverite
Member
Bear Vancouverite

Usually when you welcome someone to your home you give them a place to stay. Here in Vancouver the locals can barely afford their own place to stay, where will we house the refugees we welcome and who will pay for it?

Newcomer
Member
Newcomer

If you really want, I could explain how the refugee system works in Canada, or you could go and look it up.

Best place on meth
Guest
Best place on meth

Thanks to the housing crisis, we already have many refugees.

Some of them live in vans, other live 6 to a basement.

I’m glad Moonbeam is so caring about foreigners though.

paulb
Member
Active Member

New
275
Price Change
34
Sold
87

TI:7772

http://www.clivestevepaul.com

Newcomer
Member
Newcomer

No impact yet. Oh, sure, these sales were made long ago and are only being reported now, but I have been told that Clark tells people in China well in advance of announcing policy changes, so one really would expect to see the uptick by now.

Just me
Guest
Just me

It might come as a surprise to you, but Clark did partake in a few trips to China with RE executives and agents. Promoting the BC real rstate sector.
When she retires from politics (one lives in hope…) she is almost guaranteed a profitable PR job in the industry.

Newcomer
Member
Newcomer

Why would that be a surprise?

Just me
Guest
Just me

You seem to be surprised every time someone suggests that China matters a lot for local RE.
Believe me, she would not go out there if there was no tangible result herself and her interest group.

Newcomer
Member
Newcomer

You don’t read very carefully. Or perhaps it is just sloppy thinking again, because I can’t tell what you mean by “a lot.”

You might notice that I aways say that China is not the “primary driver.” You see how I’m being specific. You can argue against that because it is quantifiable. No one can argue against “a lot” because it is not quantifiable.

But the question here is not “Is Clark involved and benefitting from Chinese RE investment?” The question is, “Is Clark leaking her policy moves to thousands of Chinese investors?”

You’ve got to admit, that’s pretty much a tinfoil hat position.

Just me
Guest
Just me

Yup, I am pretty sure Christy Clark lets her friends know a bit in advance. That includes big Chinese and Malaysian developers.
And why not? They pay her top up salary.

Newcomer
Member
Newcomer

TFH

Yikes
Guest
Yikes

How many west side detached sales today?

Best place on meth
Guest
Best place on meth

2

Just me
Guest
Just me

Someone who knows how things work just pointed out to me that the new rules on FBT are circumvented very easily now. One can set up a fake limited company and simply pay small amounts to “workers” as remuneration. Say, you pay yourself a 20k yearly salary.
There you have it. Cheap, legal and effective. Opening companies is allowed to anyone with money, as far as I know. Work permit is also not hard to get.

Shut It Down Already
Guest
Shut It Down Already

That company would have to demonstrate that they’d attempted, and failed, to employ a Canadian.

fomostyle
Guest
fomostyle

Lol. Sure. In theory….

Newcomer
Member
Newcomer

That’s not super hard, but it is a lot of fuss and bother for a crappy investment. 15% is small potatoes compared to the potential for prices changes. If someone likes the investment, 15% won’t stop them and they won’t jump through 12 hoops to avoid it. Let’s remember that these guys are said to have infinite money.

Just me
Guest
Just me

On a 2 mil house, 15% is 300k. Just saying…

Newcomer
Member
Newcomer

People who are scared off by 300K don’t speculate in 2M bungalows in foreign countries.

Just me
Guest
Just me

They did not get rich by throwing away money. Ruch people care about savings even more than poor people.

Just me
Guest
Just me

Not if you pay yourself for “services”. This is how contractors work.

Newcomer
Member
Newcomer

I did that in the States. Perfectly legal but a lot of hassle.

bullwhip29
Guest
bullwhip29

this isnt even required. there are so many asian owned import/export, consulting, construction, IT, service related businesses to facilitate much of this for friends, family, friends of friends, family of friends etc and vice versa. they can post a lousy job that no one wants and you’re done. in fact, you don’t even need to fill out much of the “open” work permit documents as it pertains to the actual particulars of the employment.

Hyper-mega-Bull
Member
Hyper-mega-Bull

big american tech companies have been using vancouver (and other canadian cities) as close to home outsourcing to access canadian and international talent because it is easier to bring skilled workers here. except that to increase in a major way. these high paid workers will drive help to drive up rent and real estate because the are all located downtown.

Amazon Is Working With Lawmakers to Counter Trump’s Immigration Order

https://www.wsj.com/articles/amazon-is-working-with-lawmakers-to-counter-trumps-immigration-order-1485814300

Newcomer
Member
Newcomer

That actually is true.

Hyper-mega-Bull
Member
Hyper-mega-Bull

everything i write is true, you just don’t realize it because a cloud of ignorance that engulfs your mind.

Newcomer
Member
Newcomer

That’s true.

Hyper-mega-Bull
Member
Hyper-mega-Bull

a question for everyone on the blog. compared to last week, is canada now a more or less attractive place to invest?

Best place on meth
Guest
Best place on meth

For wealthy people from Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen I would say Canada is now more attractive.

I am told they love to ski, sail and golf all in the same day.

For everyone else, no difference.

Combat roach
Guest
Combat roach

Lol, a good one…

Shut It Down Already
Guest
Shut It Down Already

A new low.

YVR
Guest
YVR

I would say Europe, Australia and pretty much any other first world nation would be in front of Canada now. A big attraction of Canada is proximity to the US which is useless if you can’t travel there. Heck you may not be able to get a flight home as many stop in the US.

ostritch
Member
ostritch

Europe? A place to invest?

Best place on meth
Guest
Best place on meth
From Steve Saretsky: Happy Chinese New Year! As we celebrate the year of the rooster, capital controls in China are sending shivers through global housing markets. Including, you guessed it, Vancouver. Just how severe are the capital controls? According to Bloomberg, Australian developers are facing “big problems” as Chinese buyers back away from deposits. Meanwhile, Lawyer Dan Harris- an expert on facilitating trade with Chinese businesses — said that China has aggressively clamped down on capital flight. “If anyone thinks the Chinese government will not stop people from sending $3 million out to buy a house in Vancouver? Wow. I don’t know what they know that I don’t.” Perhaps this explains the sales purge of single family homes in Vancouver. As of today there have only been 19 sales in West Vancouver, the worst January on record was 22 sales… Read more »
Just me
Guest
Just me

But I thought the Chinese buyers only accounted for 5% of sales. I must have been misinformed….

YVR
Guest
YVR

According to Bloomberg, Australian developers are facing “big problems”

Good thing we don’t do presales in Vancouver where the bulk of the money is due upon completion.

YVR
Guest
YVR

“If anyone thinks the Chinese government will not stop people from sending $3 million out to buy a house in Vancouver? Wow. I don’t know what they know that I don’t.”

Or $500k per year to make payments on that $10 million mortgage. If these capital controls are working we should see some liquidation at the high end soon.

Oh NO
Guest
Oh NO

High end 100k plus car sales have crashed FYI

Newcomer
Member
Newcomer

Link?

Just me
Guest
Just me

Now, this gives me great joy! If only it lasted lomg enough for those hideous dealerships on Burrad to go bankrupt…what a day that would be.

Newcomer
Member
Newcomer

I just noticed them for the first time yesterday. Have they always been there? There seemed to be quite a few.

ostritch
Member
ostritch

That reads like Bill Hader’s character Stephon.

Best place on meth
Guest
Best place on meth

Here’s Christy handing out offers for interest free downpayment loans, as well as asking some little ones if they plan to attend any open houses later in the day.

https://www.youtube.com/watch?v=swL_qygww54

fomostyle
Guest
fomostyle

This North American real estate obsession is sick.

Shut It Down Already
Guest
Shut It Down Already

Why are you waiting for prices to fall to point that you’ll jump in then?

Oracle
Guest
Oracle

War coming.

http://www.cnbc.com/2017/01/29/us-china-war-increasingly-a-reality-chinese-army-official-says.html

Wouldn’t want to be a treasonist here in Canada or the US.

Newcomer
Member
Newcomer

Do you perhaps mean “traitor?”

Hyper-mega-Bull
Member
Hyper-mega-Bull

mayor gregor quisling bethune robertson. that’s a mouth full.

Just me
Guest
Just me

So funny. The evidence is piling up everwhere.

http://astanatimes.com/2017/01/kazakh-economy-saw-sharp-increase-in-chinese-investment-in-2016/

ASTANA – The inflow of direct Chinese investment in the economy of Kazakhstan amounted to $623.9 million between January and September last year, seven times higher than in 2015.

Screwed
Guest
Screwed

My native country!

patriotz
Member

” The evidence is piling up everwhere.”

Evidence of what exactly? Expanding investment in Central Asia, like in Africa, is a core Chinese economic policy.

Just me
Guest
Just me

At a rate of increase that is fivefold in a year?

Shut It Down Already
Guest
Shut It Down Already

When the starting numbers are so small a 5-fold increase is easy to obtain. It doesn’t mean there will also be 5x next year or the year after.

Just me
Guest
Just me

It’s a huge multiple in all countries. Including those where the baseline was higher.
This is a tsunami of money leaving China and trying to find a different home (no pun intended).
This affects our standard of living, as it distorts prices in unprecedented ways.

patriotz
Member

The money going to Kazakhstan is not “trying to find a different home”, it’s state-sponsored infrastructure investment in support of Chinese trade. China has established a through container rail route to Europe. Nothing to do with outflows by private individuals.

bullwhip29
Guest
bullwhip29

B.C. tight-lipped about potential refunds for foreign buyer tax
http://bc.ctvnews.ca/b-c-tight-lipped-about-potential-refunds-for-foreign-buyer-tax-1.3264103

>>> i wonder how long it will take for some disgruntled sellers to come out of the woodwork and ask for their cut of the action? without question this argument will fall on deaf ears, but surely they would sold for more had the tax not been implemented, right? or maybe not according to those that believe the tax had no impact whatsoever on prices. we will see in the coming weeks/months. anyhow, some food for thought…

bullwhip29
Guest
bullwhip29

and here we go, global is right back at it with yet another puff piece on HAM and their expensive toys…two thumbs up!

http://globalnews.ca/video/3215837/vancouver-is-the-new-home-to-luxury-retail-shops/

fomostyle
Guest
fomostyle

Omg it’s one block. With a freaking Michaels art supply store on it. (Won’t see that on Rodeo Drive) Lord. This only confirms to me what a small backwater town this is.

southseacompany
Member
southseacompany

“Americans are rushing to get ahead of rising mortgage rates”, Market Watch

http://www.marketwatch.com/story/americans-are-rushing-to-get-ahead-of-rising-mortgage-rates-2017-01-30

” most consumers seem to understand that better economic growth comes at the cost of higher interest rates. According to data out Friday, that may be nudging them into the housing market.”

southseacompany
Member
southseacompany

“Bank of Canada says rising house prices, household debt ‘worrisome'”, BNN Video

http://www.bnn.ca/bank-of-canada-says-rising-house-prices-household-debt-worrisome-1.661081

“Speaking to a House of Commons finance committee, (Deputy Governor Sylvain) Leduc said the central bank has repeatedly warned about rising debt levels among consumers in case of an unexpected shock, even though the risk of an adverse event is low.”

“House prices are going up, people are reaching maybe a bit more and getting a bit more indebted. And the fact that the indebtedness is rising the most for highly indebted people is really worrisome, because again the macro conjecture might change very quickly, putting people under stress, under duress,”

southseacompany
Member
southseacompany

“A Wake-Up Call for Canadian Investors: The Housing Market Can Crash”, Yahoo Finance

https://ca.finance.yahoo.com/news/wake-call-canadian-investors-housing-133801652.html

“Despite warnings from banks worldwide and within Canada, reports from economic think tanks, a slew of data, and unbiased analysis, I still come across articles written largely by Canadian institutions or investors with a vested interest in not only maintaining but growing the Canadian housing bubble. Whether it is a real estate association or a group of investors with long positions in risky real estate stocks, some people just don’t want to see what is right in front of them. What’s worse, these same people are creating a bubble that will be even more catastrophic when the time comes for the market to correct.”

Newcomer
Member
Newcomer

Nice!

Oracle
Guest
Oracle

Gov bailouts then.

As soon as the markets starts booming, people are going to buy as many homes as possible this time. No one, I mean no one is going to miss out this time and. It but. I buy 3 too if I can somehow.

Within a year if prices go up 33%, you then have a paid off home. If they crash well everyone gonna be in same boat so bailout will happen.

Shut It Down Already
Guest
Shut It Down Already

You’ve paid off nothing until you sell. You’re also omitting transaction fees. And surely the time to buy is before the boom rather than during or after. Wouldn’t that be now?

history
Guest
history

we have a Balance Sheet economy. Revenue is derived by inflating assets, with debt liability… a little more asset on the ledger. When this stops, market crashes. We move next to an Operations economy, revenue derived from classic economic practise. We’re in the transition zone now. If you stay on the margin, you’ll be ok, but if you’re fixed, this period may be quite terrifying.

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