Rent communists!

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Re: Rent communists!

Post by BC Landlord »

nicholas p wrote: Mar 31st, 2024, 5:16 pm What I am telling is if you are buying 2nd house increase tax to double, ...
Stop right here. If you double the tax on rental properties, that would take a significant impact on rents. Why would anyone want to do that? :200:
Last edited by BC Landlord on Mar 31st, 2024, 8:35 pm, edited 1 time in total.
spooker

Re: Rent communists!

Post by spooker »

The Green Barbarian wrote: Mar 31st, 2024, 5:26 pm Once again - the answer to the housing shortage isn't even MORE government intervention, it's less government intervention. The scenario above sounds incredibly stupid, and there's no way it could be "found effective" if all the unintentional and horrible consequences of implementing this regressive nonsense are considered.
Sure, let the market decide, they will make sure profits continue to be pursued. Only people who will win in that scenario are the people who already have enough extra to make more with it.
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Re: Rent communists!

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spooker wrote: Mar 31st, 2024, 8:35 pm
The Green Barbarian wrote: Mar 31st, 2024, 5:26 pm Once again - the answer to the housing shortage isn't even MORE government intervention, it's less government intervention. The scenario above sounds incredibly stupid, and there's no way it could be "found effective" if all the unintentional and horrible consequences of implementing this regressive nonsense are considered.
Sure, let the market decide, they will make sure profits continue to be pursued. Only people who will win in that scenario are the people who already have enough extra to make more with it.
Why do you have such a hate on for people who make money? :135:
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Re: Rent communists!

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Gone_Fishin wrote: Mar 31st, 2024, 8:49 pm Why do you have such a hate on for people who make money? :135:
Marxist mentality.
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Re: Rent communists!

Post by spooker »

Gone_Fishin wrote: Mar 31st, 2024, 8:49 pm
spooker wrote: Mar 31st, 2024, 8:35 pm

Sure, let the market decide, they will make sure profits continue to be pursued. Only people who will win in that scenario are the people who already have enough extra to make more with it.
Why do you have such a hate on for people who make money? :135:
Why do you believe that my statements represent that point of view?
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Re: Rent communists!

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Nobody really cares about renters - National Observer

Canada’s renters are finally getting their moment in the political sun. After a lifetime of being studiously ignored by most elected officials in favour of current and aspiring homeowners, renters and their issues are suddenly at the tip of almost everyone’s political tongue. That includes Prime Minister Justin Trudeau, who made his appeal to them on Wednesday in Vancouver, the city with the country’s highest rents. “In today’s Canada, more people are renting than ever before. And that number is growing at double the rate of those able to buy a new home compared to a decade ago.”

>snip<

“Nearly two-thirds of young Canadians rent their homes,” Trudeau said in his remarks, “and they pay a greater share of their income on housing than other generations.” And no wonder: according to the Canada Mortgage and Housing Corporation, in Vancouver, the average two-bedroom apartment now rents for nearly $2,200 a month, up almost 10 per cent from the previous year. With vacancy rates sitting below one per cent, those rents aren’t going down any time soon.

If anything, that data undersells just how dire the situation really is. According to the monthly listings from Rentals.ca and Urbanation, which offer a more accurate perspective on what it costs to rent something today, the average rent on a two-bedroom apartment is $3,541. This actually represents a modest decrease from where prices were a year ago, if you can believe that. This increasingly desperate situation is draining the bank accounts of younger renters and making it impossible for them to save for their futures, much less the sort of down payment required for an average Vancouver condo that now costs $827,000.


https://www.nationalobserver.com/2024/0 ... ut-renters
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Re: Rent communists!

Post by George Orwell 1984 »

Renters will get their moment in the political sun and believe, although briefly that justin is helping. Then the light bulb turns on and they realize that they too are being screwed by the Ottawa grifters.
Axe the tax , call the election !
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Re: Rent communists!

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George Orwell 1984 wrote: Apr 1st, 2024, 6:37 am Renters will get their moment in the political sun and believe, although briefly that justin is helping. Then the light bulb turns on and they realize that they too are being screwed by the Ottawa grifters.
Axe the tax , call the election !
Yes, renters are the latest cause for the social justice warriors. Lucky them! [/s]

There's no reason to expect the activists and SJWs to do better by Canada's renters than they've done for women and girls, for LGB, for First Nations, for visible minorities - all of whom have been designated pitiable, helpless members of assigned victim groups to serve the SJW purpose of "championing the oppressed" regardless of the cost to the individuals assigned to these groups, and eventually cast under the SJW bus on behalf of the next progressively designated pitiable victim group.

Meanwhile the opportunistic governments and their bureaucratic agencies and the poverty pimps they support continue to grow and grow, and dependency on government grows and grows - all at our expense.
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Re: Rent communists!

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BC Landlord wrote: Mar 31st, 2024, 8:32 pm
nicholas p wrote: Mar 31st, 2024, 5:16 pm What I am telling is if you are buying 2nd house increase tax to double, ...
Stop right here. If you double the tax on rental properties, that would take a significant impact on rents. Why would anyone want to do that? :200:
Does rental properties truly not come down to demand??
Let's face it if the demand was not so high, the rent would not be either as the property owners would be competing to occupy or rent out their property.

A large part of the current issue is the millions of immigrants that have been welcomed to Canada. Trudeau creates a problem and then is going to attempt to control it. He should have thought about it before opening the flood gates!
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Re: Rent communists!

Post by nicholas p »

BC Landlord wrote: Mar 31st, 2024, 8:32 pm
nicholas p wrote: Mar 31st, 2024, 5:16 pm What I am telling is if you are buying 2nd house increase tax to double, ...
Stop right here. If you double the tax on rental properties, that would take a significant impact on rents. Why would anyone want to do that? :200:
When you double the tax on the second house, the investor has to invest more money when he is not sure about returns as he has compete with other owners of first time buyers who have basement with less rent, third house buyer can't get the returns as he has to invest more and can't pass it down to renter as he has to compete with first time and second time buyer who have renter who have invested less and the rent will be low. So third house buyer will invest his money in other the risk is less and returns are more. This increases the houses in market and smoothens the price as the stock is more compared to demand.
Now what is happening is the person who has money starts investing in real estate as risk is less ,his mortgage +part of down payment for next house is paid by renter. most houses newly built or in market are bought by these kind of people which creates scarcity of supply which drives the price higher
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Re: Rent communists!

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fluffy wrote: Apr 1st, 2024, 5:32 am Nobody really cares about renters - National Observer
^^^^
In case you needed more proof that we care far too much about renters and not enough about landlords, there you go.
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Re: Rent communists!

Post by The Green Barbarian »

Gone_Fishin wrote: Mar 31st, 2024, 8:49 pm
spooker wrote: Mar 31st, 2024, 8:35 pm

Sure, let the market decide, they will make sure profits continue to be pursued. Only people who will win in that scenario are the people who already have enough extra to make more with it.
Why do you have such a hate on for people who make money? :135:
It's amazing to me no matter how many times the evil Marxist ideology these fools keep pushing fails, they never stop. More government, more "rich people bad", and more of this moronic "people shouldn't be allowed to make money". They are so freaking dense, because they've never invested capital, or taken a risk in their lives. Everything has been handed to them, and therefore, it will always be this way, even after they Venezuela the crap out of Canada and chase away all business investment with garbage ideas and stupid policies. Just disgusting people, with truly disgusting and bad ideas, with only one goal in mind - mass human suffering.
"The conservatives have rediscovered their spines! — and not just the ones that enable them to stand up straight, but the ones that make them spiky and witty and able to spar with some truly devastating confidence and humour. - Jordan Peterson
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Re: Rent communists!

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fluffy wrote: Apr 1st, 2024, 5:32 am Nobody really cares about renters - National Observer

Canada’s renters are finally getting their moment in the political sun. After a lifetime of being studiously ignored by most elected officials in favour of current and aspiring homeowners, renters and their issues are suddenly at the tip of almost everyone’s political tongue. That includes Prime Minister Justin Trudeau, who made his appeal to them on Wednesday in Vancouver, the city with the country’s highest rents. “In today’s Canada, more people are renting than ever before. And that number is growing at double the rate of those able to buy a new home compared to a decade ago.”

>snip<

“Nearly two-thirds of young Canadians rent their homes,” Trudeau said in his remarks, “and they pay a greater share of their income on housing than other generations.” And no wonder: according to the Canada Mortgage and Housing Corporation, in Vancouver, the average two-bedroom apartment now rents for nearly $2,200 a month, up almost 10 per cent from the previous year. With vacancy rates sitting below one per cent, those rents aren’t going down any time soon.

If anything, that data undersells just how dire the situation really is. According to the monthly listings from Rentals.ca and Urbanation, which offer a more accurate perspective on what it costs to rent something today, the average rent on a two-bedroom apartment is $3,541. This actually represents a modest decrease from where prices were a year ago, if you can believe that. This increasingly desperate situation is draining the bank accounts of younger renters and making it impossible for them to save for their futures, much less the sort of down payment required for an average Vancouver condo that now costs $827,000.


https://www.nationalobserver.com/2024/0 ... ut-renters
And why do we have this problem fluffy? Could it be due to DEMAND?

And what is driving this demand? Could it be IMMIGRATION?
I'm posting this from Traditional lands of the British Empire & the current Lands of The Dominion of Canada.
I also give thanks for this ethos richness bestowed on us via British Colonialism.

Isn't there usually a nut on the other end of a bolt?
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Re: Rent communists!

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Ken7 wrote: Apr 1st, 2024, 7:23 am Does rental properties truly not come down to demand??
Let's face it if the demand was not so high, the rent would not be either as the property owners would be competing to occupy or rent out their property.
Demand is one thing, and profitability is a different one. Read on below ...
nicholas p wrote: Apr 1st, 2024, 9:06 am When you double the tax on the second house, the investor has to invest more money when he is not sure about returns as he has compete with other owners ...
Why would anyone HAVE TO invest their money into something deprived of profit? It would be far better to invest that money into a sluggish mutual fund, than operating a business at zero, or negative return. Nobody can MAKE people invest in RE, and such investment is someone's roof over their head. I have to remind you again, small landlords (aka "investors") account to about 40% of the entire rental stock. Do you really want them out?
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Re: Rent communists!

Post by Gone_Fishin »

spooker wrote: Apr 1st, 2024, 5:16 am
Gone_Fishin wrote: Mar 31st, 2024, 8:49 pm

Why do you have such a hate on for people who make money? :135:
Why do you believe that my statements represent that point of view?
Just a wild speculation, I guess.
spooker wrote: Mar 31st, 2024, 8:35 pm Sure, let the market decide, they will make sure profits continue to be pursued. Only people who will win in that scenario are the people who already have enough extra to make more with it.
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