Subj : Re: Chinese Scientists Cr
To   : KURT WEISKE
From : Rob Mccart
Date : Wed Feb 26 2025 01:23:00

RM> Here our advantage is your *Principal* residence can be sold at a
RM> huge profit without any Capital Gains tax involved.

KW>Yeah, that's where it gets muddy with short term and long term capital
  >gains - I think there's a loophole somewhere if you use the proceeds of
  >a primary residence to buy another primary residence.

Yes, that would make sense, if you are buying UP immediately, you are
not taking any profit out of the sale of your old place

KW>I'm pretty pessimistic about attempts to lower housing costs. The
  >administration has extending the 2017 tax cuts a priority, so cutting
  >taxes on the middle class would hamper that effort. Housing is a
  >high-stakes, high-income game, I don't know how popular a grant program
  >for market-rate housing would go.

We are in the middle of a Provincial election here, not the Federal one
that is getting all the publicity, to elect the next Provincial Premier,
which is like a State Governor in the USA I suppose..

We have 3 Major parties here and a number of little ones that will
never accomplish more than getting a few seats at the table to
complain about what the people in power are doing. One of those
called the Green Party is advertising at the moment that, if elected,
they will change the tax and fee system on house purchases for first
time buyers that will save them $150,000 on that house. No exact
details given but that's the sort of thing being bantered about..

KW>Landlords aren't any better - rents are a trailing indicator. Around
  >here, it takes a long time for rents to start coming down, you'll see
  >landlords convinced that the apartment they rented for $2000, then
  >bumped the price up to $3200, is still worth that when the market cools.

Yes, generally they are the last to lower prices unless they just can't
find anyone to pay that much... But, that said, in most of the country
unless you make major upgrades to a rental property you cannot raise
the rent more than a few percent a year, 2.5% here at the moment but
mostly that means a lot of apartment building type landlords are
suddenly finding it necessary to do major renovations to the building,
often tossing everyone living there out first (with notice)..

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 * SLMR Rob  * Sometimes too much drink is barely enough - Mark Twain
 * Origin: capitolcityonline.net * Telnet/SSH:2022/HTTP (1:2320/105)

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