Foreign buyers tax in the Okanagan

[sublime]

In the meantime, expect to hear more panic and fear mongering from those most to gain from other people's financial enslavement to the housing cult.

Can't wait to hear the "jealousy" card played again. As a local home owner I feel bad for this latest generation (yes all the whiners that want to start off with a mansion according to some ) that they aren't offered the same entry level ownership opportunity that the generation complaining the most was. It's simple, please work harder, live in a tiny house and do not get jealous. Some day you will have earned the right to complain on a web forum!

[LANDM]

In the meantime, expect to hear more panic and fear mongering from those most to gain from other people's financial enslavement to the housing cult.

And expect to hear more from the "well known financial advisor" (not "adviser", who actually has a fiduciary duty to his clients) who simply wants to pad his income by sowing housing fear for years so people invest in his commission based investment products instead of a home.

[alanjh595]

Ah, but here's the thing: the spec tax is just one of a suite of measures designed to curb the housing bubble. Federal and provincial governments are terrified of a housing crash, as is obvious by the relentless round of new policies. B20, rising interest rates, etc., will likely hammer further nails into the coffin of housing unaffordability.

In the meantime, expect to hear more panic and fear mongering from those most to gain from other people's financial enslavement to the housing cult.

The only ones that are in panic are those that want to get into the market. B20 will make sure that only the cream of the crop get in, the rest will settle to the bottom. If they don't want to become "enslaved", then they either can sink or swim. It's their choice, nobody is holding them under and there is nobody going to help them out of the rental pool.
If you choose not to become "enslaved" by the housing cult, then don't even try. It's your choice.

[JonMorrison]

In the meantime, expect to hear more panic and fear mongering from those most to gain from other people's financial enslavement to the housing cult.[/quote]

Ogopogo,

The rhetoric you spew is entertaining and hypocritical!

interesting you are currently a "renter" looking for a housing crash, while spewing comments like the following " more panic and fear mongering from those most to gain from other people's financial enslavement to the housing cult".

Again, as I've stated previously it is a good thing you are able to hide behind an alias as your professional colleagues I'm sure would have difficulty with the ethics and integrity you display in this public forum.


Respectfully,

Local Builder & Developer

[OgopogoO]

*removed*

[Jflem1983]

Ogopogo,

The rhetoric you spew is entertaining and hypocritical!

interesting you are currently a "renter" looking for a housing crash, while spewing comments like the following " more panic and fear mongering from those most to gain from other people's financial enslavement to the housing cult".

Again, as I've stated previously it is a good thing you are able to hide behind an alias as your professional colleagues I'm sure would have difficulty with the ethics and integrity you display in this public forum.


Respectfully,

Local Builder & Developer

Looks like you need to work on your reading comprehension, Mr. "Local Builder & Developer." First of all, I'm not a "renter." I'm a renter. You're using quotation marks wrong. Second, there is nothing hypocritical about wanting housing prices to normalize in relation to my well-known positions in this thread. Read my comment which you quote again. Slowly this time (it's okay to move your lips while reading). Let me know if you're still having trouble understanding it, and I'll do my best to explain it further.

You also seem unduly upset by my alias. For a guy with 14 comments, several of them directed at me, you should be more concerned about what's driven you to create an account here to try and denigrate one of the few voices championing housing affordability. That fact that you can safely post your name and occupation here without jeopardizing your career just goes to show that you have the pro-bubble establishment on your side. You are the status quo that the NDP, for all their faults, are doing their best to kneecap so as to bring sanity to BC's housing crisis.

Tell me more about my "ethics and integrity." Is it ethical to cheer a housing bubble that has left thousands of families deeply indebted with lifetime mortgages? What's unethical about wanting housing affordability? Should I not desire the best for myself and my clients?

Umm houses in rural sask are cheap. Nothing stopping you from owning a home

[OgopogoO]

*removed*

[sublime]

Umm houses in rural sask are cheap. Nothing stopping you from owning a home

Great place for a secondary/vacation/retirement home too! Plus no extra tax! Win win

[alanjh595]

Umm houses in rural sask are cheap. Nothing stopping you from owning a home

Great place for a secondary/vacation/retirement home too! Plus no extra tax! Win win

Rural Saskatchewan is a great place to be FROM, not a great place to go TO.

[sublime]

Rural Saskatchewan is a great place to be FROM, not a great place to go TO.

For the tax complainers it would be a great option... as the saying goes "beggars can't be choosers".

[cv23]

So Whistler has the most unaffordable housing in the province yet no spec tax?????
http://theprovince.com/real-estate/whis ... ebe37cacf5

[OgopogoO]

So Whistler has the most unaffordable housing in the province yet no spec tax?????
http://theprovince.com/real-estate/whis ... ebe37cacf5

Good to see that we both agree the spec tax should be expanded to more municipalities, including Whistler.

[cv23]

Good to see that we both agree the spec tax should be expanded to more municipalities, including Whistler.

It should cover the ENTIRE province if it is indeed for the benefit of British Columbians and not just another NDP tax grab

[OgopogoO]

It should cover the ENTIRE province if it is indeed for the benefit of British Columbians and not just another NDP tax grab

Again we agree. Double hitter. That's the most hits in a row I've ever experienced in our sad little thread.

I'd go a step further and also say that the NDP should have kept the spec tax at 2% province wide, instead of scaling it back down to 1%.

[erinmore3775]

Ogopogo, you hit the nail on the head. The current government provided the tax to raise $200M or more. They chose a select set of areas that would allow them to generate that amount or more. It was nothing more than a tax grab and a very poorly written piece of legislation at that.
The legislation should have been or should be province wide, set at 2.5%, and applied only to those who do not file and pay federal/provincial taxes. I find it interesting that this government chooses to blindly penalize Canadian residents that have more than one residence. If you wanted a true speculation tax, the province could work with the federal government to revise the capital gains tax in a way that it is front and back loaded for non-Canadian tax paying residents.