The NDP is promising to implement a $400 rental grant if elected. This grant would be applicable to all rentals and would have the side effect of pretty much putting an end to rental income tax evasion.
Christy Clark is disturbed by the idea of money going to “wealthy renters”
“That isn’t right,” Clark said. “We shouldn’t be redistributing our tax money to the very rich. We should be making sure that we spend our resources supporting people who are having trouble staying in their homes.”
The NDP also pledges to close a fixed term lease rent loophole that lets some landlords raise rents higher than otherwise allowed.
Read the full article here.
Even outside of ridiculous vancouver, this nation is real estate crazy. In many key metrics Canada has surpassed the US housing bubble at its peak.
As David Rosenberg, the chief economist at Gluskin Sheff told BNN Thursday, “This bubble is on par with what we had in the States back in ’05, ’06, ’07. We have to actually take a look at the situation. The housing market here is in a classic price bubble. If you don’t acknowledge that, you have your head in the sand.”
Read the full article over at Macleans.
It’s the end of another work week and that means it’s time for another Friday Free-for-all! This is our regularly scheduled end of the week news round up and open topic discussion thread for the weekend. Here are a few recent links to kick off the chat:
–Hot housing market could drag down Canada
–A 2% tax for owners who don’t file income tax
–REBGV stats for March
–Wide open for money laundering
–Sales down 31% over previous March
–BMO: the solution isn’t more tulips
–RCMP reviews swap of $130m land for $15m
So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments section below and have an excellent weekend!
Owe Canada posted this in the weekends thread and it’s got some very interesting numbers:
Canadian annual gdp at the present time is $2.06 trillion.
In the 1 year period from the end of December, 2015 to the end of December, 2016 (calendar year 2016) the Canadian economy grew by 1.4% – ie: the size of the economy grew by $28.9 billion.
In this same 1 year time frame the total debt outstanding in Canada grew by $309 billion. For each $1.00 the economy grew in this 1 year period the total debt outstanding increased by $10.69.
Looking at just the total debt outstanding of domestic non-financial sectors in Canada. In the 1 year period from the end of December, 2015 to the end of December, 2016 the total debt outstanding of domestic non-financial sectors increased by $215 billion. For each $1.00 the economy grew in this 1 year period the total debt outstanding of domestic non-financial sectors increased by $7.43.
At the end of December, 2016 the total debt outstanding in Canada was 3.5 times greater than our annual gdp, and looking at just the total debt outstanding of domestic non-financial sectors, that was 2.5 times greater than our annual gdp.
Here’s more from Owe Canada.
Normally this post would happen on a Friday, but somebody went amiss.
This is our regular end of the week news round up and open topic discussion thread for the weekend.
So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!