119
Doug Ford and Mark Carney claim $2.2 billion HST rebate on new homes will help renters become owners. Instead, it’s helping the wealthy buy more rental properties (www.thestar.com)
submitted 5 months ago by to c/canada@lemmy.ca
24 comments fedilink hide all child comments
 

Mirror

you are viewing a single comment's thread
view the rest of the comments
[–] 6 points 5 months ago (1 child)

They are not genuinely interested in anything that is going to lower property values. Their stakeholders and keepers are far more interested in preserving and even increasing property values.

  • permalink
  • fedilink
  • source
  • hideshow 1 child comment
    •
  • [–] 1 point 5 months ago

    Of course they don’t want to lower property values. If you reduced house prices to pre covid cost plus a more standard increase, say 25% vs the 53% google tells me that has happened in Ottawa. Anyone that has bought recently would be absolutely screwed. If they end up having borrowed more than the house is worth, the bank isn’t going to let them renew. That’s a lot of people whose down payment would have evaporated.

  • permalink
  • fedilink
  • source
  • parent