Rent Bank

Social, economic and environmental issues in our ever-changing world.
TylerM4
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Re: Rent Bank

Post by TylerM4 »

Vacancyrate wrote:
Interesting how you call a government-subsidized sector of the real estate an "investment".

Is an investment still and investment if there is no risk, and the taxpayer assumes all the risk for you? You just collect and never lose. Is that really an investment? If there is no risk why should you be rewarded?

An investment infers you can actually fail, and yet you have the entire power of the Federal Government printing money (450 billions and counting), handing out mortgage deferrals and doing everything in their power to keep your "investment gains" coming.
Do you really believe this or are you just trying to be difficult? You've seriously never heard about anyone ever losing money in real estate? There's a reason I said 95% and not 100%. A GIC is an investment, same with an RRSP ...and guess what? They're 100% GUARANTEED! I suspect your knowledge of investment/investing isn't this poor and you're just trying to be difficult but I do apologize if you truly don't understand the basics.

You also need to speak to the government subsidy portion of your claim. How is tax payer money being used to increase the value of my real estate?
Vacancyrate
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Re: Rent Bank

Post by Vacancyrate »

TylerM4 wrote: How is tax payer money being used to increase the value of my real estate?
The CERB cheque protected your house price.

That's without even addressing the tax rebates, home tax reno credit, first time buyers programs and the federal Government printing 450 billion dollars to keep everyone spending so they didn't pull back, sell their houses and drive real estate prices down 20% in Canada like CHMC was anticipating..

..that is before DADDY TRUDEAU came in and saved your day.

Money printer go brrrrrrrrrrrrr

Save those house prices!
BC Landlord
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Re: Rent Bank

Post by BC Landlord »

Vacancyrate wrote:Is an investment still and investment if there is no risk, and the taxpayer assumes all the risk for you? You just collect and never lose. Is that really an investment? If there is no risk why should you be rewarded?
It is, ... or it would be, if existed. All it takes is one belligerent tenant to set you back royally, and there is no government (taxpayer) coming to your rescue. If this is not "risk", I don't know what is.
TylerM4
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Re: Rent Bank

Post by TylerM4 »

Vacancyrate wrote:
TylerM4 wrote: How is tax payer money being used to increase the value of my real estate?
The CERB cheque protected your house price.

That's without even addressing the tax rebates, home tax reno credit, first time buyers programs and the federal Government printing 450 billion dollars to keep everyone spending so they didn't pull back, sell their houses and drive real estate prices down 20% in Canada like CHMC was anticipating..

..that is before DADDY TRUDEAU came in and saved your day.

Money printer go brrrrrrrrrrrrr

Save those house prices!
CERB - that's really scraping the bottom of the barrel. CERB was intended to protect the economy as a whole. Yes, the housing market is a part of the economy. Might as well say "Every economic stimulus package". CERB also protected your job, your favorite restaurant or business, etc. Also, economic stimulus packages often "pay for themselves" in the long run, or at least a large portion of themselves. An economic crash results in huge loss of tax revenue and can take a decade to recover from.

Tax rebates? You mean like the homeowners grant? This program is in place to cause additional tax for those who own multiple homes. What you actually mean is that people with multiple homes are subsidizing property tax for those with only one. If you don't own a home, not a cent of your tax money is used for this grant.

Home renovation tax credit - No such thing exists. Unless you're talking about qualified renos for seniors or those with disabilities? (Eg for a wheelchair ramp). It's a pitiful subsidy at that. This is a subsidy for seniors or those with disabilities, It can be used even if you don't own the home. It's not a homeowner subsidy.

1st time home owners program. If you understood this program you'd understand it brings in more tax revenue than it costs. Home owners pay way more tax than those who don't own a home. It's an incentive that if acted upon causes you to spent MORE money in taxes, not to avoid taxes, etc. If you want to increase tax revenue without implementing a new tax, increasing the number of home owners is an excellent way to do so.

All very poor examples I'm sorry.
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Rejigger
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Re: Rent Bank

Post by Rejigger »

Vacancyrate wrote: The CERB cheque protected your house price.
The CERB cheque was issued to protect the entire economy.
That's without even addressing the tax rebates, home tax reno credit, first time buyers programs
First, if you want to go down the list of all the tax "rebates" (etc.) that the government offers, we're going to be here awhile.

Here are some bones for you to gnaw on:

Old Age Security doesn't start getting clawed-back until the taxpayer has ~$79k of income, so a couple could have $158k of annual income and STILL receive Old Age Security. Kinda redefines what's needed to feel "secure", doesn't it?

...or...

The Canada child benefit is a tax-free monthly payment that pays up to $6,400 per year for each eligible child under 6 years old and up to $5,400 for each eligible child from 6 to 17 years old. The government continues to pay people to have babies in an already over-populated planet (over-population is killing this planet!). Single parents are awarded most, with respect to tax credits (maybe you know someone who fits into this category?).

...or...

Medical expenses that are greater than 3% off net income or ~$2,400, whichever is less. So someone who is earning $1M a year can still get a credit for dental work that costs more than $2,400. Veneers, anyone?
And remember the good old days when taxpayers could claim their facelifts, etc. (plastic surgery) as medical on their tax return?
...and the federal Government printing 450 billion dollars to keep everyone spending so they didn't pull back, sell their houses and drive real estate prices down 20% in Canada like CHMC was anticipating..

Save those house prices!
You have a bug up your butt about real estate. Can't you find a new pet project? There are so many other things that are oppressing you that you can lash out about. Try singing a new tune 'cause even Dick Clark is tired of this one. Seriously.
Mark1111
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Re: Rent Bank

Post by Mark1111 »

Vacancyrate wrote:
TylerM4 wrote: How is tax payer money being used to increase the value of my real estate?
The CERB cheque protected your house price.

!
The CERB cheque provided the ability for people to continue to survive. Most were tenants by the way. Some happened to be home owners. Non were landlords.
If you want to test a man's character, give him power.
A. Lincoln
Vacancyrate
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Re: Rent Bank

Post by Vacancyrate »

TylerM4 wrote: CERB - that's really scraping the bottom of the barrel. CERB was intended to protect the economy as a whole. Yes, the housing market is a part of the economy.
...more than 25% of the entire GDP of Canada.
CERB also protected your job, your favorite restaurant or business, etc. Also, economic stimulus packages often "pay for themselves" in the long run, or at least a large portion of themselves.
Protected other people from losing their home, which protected your house price from a 18% drop, which was the intention. You actually had the entire weight of the Federal Government manipulating the FREE MARKET so much so that house prices climbed 18% during the biggest economic downtown of our lifetimes. Socialism for you!

If house prices were to drop just 5% in Canada that would cause huge downturns in our consumer based economy. The minute everyone's million dollar retirement equity is in question, everyone stops going to the mall and spending money and that caused huge ripple effects, Layoff, shutdowns, which then cause a negative feedback loop that we havent seen in Canada for 30 years.

The whole Canadian economy is more less real estate, because 60% of our economy is consumer spending which goes right to the crap pile as soon as everyone thinks their house is losing value.

Make sure to thank Daddy Trudeau for bailing you out.
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2manyfords
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Re: Rent Bank

Post by 2manyfords »

*removed*
Last edited by ferri on Jan 17th, 2021, 12:54 pm, edited 1 time in total.
Reason: Baiting
Trying to think of something profound, and full of wisdom to place here...any suggestions?
BC Landlord
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Re: Rent Bank

Post by BC Landlord »

Vacancyrate wrote:...more than 25% of the entire GDP of Canada.
Not sure how you arrived at this number, .. but if it's correct, are you suggesting killing of 25% of Canada's GDP? Wouldn't it be less painful to help people in need with the rent bank?

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