evandyk
Senior Member
What is a "normal house"? I make several times that and live in a two bedroom apartment which I love very much!
|
|
|
- Thread starter simuls
- Start date
evandyk
Senior Member
A "normal house" in the GTA is no longer a detached or semi-detached house. There are only a few hundred thousand of them, and they're not building any more of them in good areas. A normal house is going to be an apartment going forward.
evandyk
Senior Member
But I agree that a 1or 2 bedroom apartment should be a lot more affordable, and we could make that happen with less NIMBY.
afransen
Senior Member
I am coming around to the idea that we should just be taxing land, and not new development.
afransen
Senior Member
Move to Edmonton. He can buy a detached house there.
Find Out If Your MP Is A Landlord Or Invested In Real Estate
The federal government forces members of parliament to publicly disclose their sources of income, properties owned and investments.www.readthemaple.com
View attachment 475513
slickpete83
Active Member
increase property tax by a very larger % for investment condos, detached houses, townhomes etc... and lower taxes on purpose built rental appartment buildings, no real estate investor would ever think of buying a condo or house if the property tax was 5 times higher then primary residence lol...
lenaitch
Senior Member
You might be okay for any income-generating property but different tax rates for different versions of principle residences might run afoul of the Charter.
afransen
Senior Member
Taxing denser forms punitively and giving wealthiest homeowners a tax break seems like exactly the opposite of a good idea if we're trying to promote affordability.
afransen
Senior Member
Don't we already tax multi-unit residential more heavily?
lenaitch
Senior Member
To be quite honest I don't fully understand how mil rates are applied to assessed values and within similar zoning classes. I guess my point was it might not be considered equitable to tax a $2Mn SFH higher than a $2Mn penthouse condo (assessed values), both used as principle residences, simply because one includes its own plot of land and you don't need an elevator to get to.
slickpete83
Active Member
no all primary residence tax rates would be the same , nothing would change if you live in the unit , it only changes once you turn it into a investment property
I would make it a nightmare for investors hahaha... if you want to invest in real estate , 1) go buy or build a purpose built rental apartment building , 2)Go invest in a REIT (Real Estate Investment Trust)
yrt+viva=1system
Senior Member
Real estate prices on the rise again: RBC report forecasts the housing market correction is over
‘Sellers back in the driver’s seat.’ The spring market was a turning point, as April home resales jumped 11.3% month over month nationwide, an RBC report said.
https://www.thestar.com/business/20...eal-estate-correction-appears-to-be-over.htmljje1000
Senior Member
Indications may be that rates are going up again.
slickpete83
Active Member
new thread title - "baby we ain't got a bubble poppin' anytime soon" 
Canada's favourite addiction Hockey and buying real estate
Canada's favourite addiction Hockey and buying real estate
Toronto Rocks
Active Member
This post has been on going for 14 years. That's a long cycle, maybe time to rename this thread, The Current State of Toronto Real Estate Prices.