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I have empathy for those who are seeing rent increases but it really is a choice made. 20 years ago we scrapped together the basic deposit over a period of 5-years of saving to get a deposit and BUY our first home. We sacrificed a lot to do that. AND, we sacrificed a lot in the first few years thereafter balancing a mortgage payment, knowing we'd be better off owning than renting. For the record, our first home was in Toronto in 1999 when the variable rate was 5.95% and the fixed rate was 7.50%. Our first home was $400,000 back then. Not a small amount to invest given we were both early in our careers. It was about choices and thinking long-term. We had friends who chose to rent and spent the money on dinners, trips, and more. Things we didn't get to do. There motto was "live for the day", not tomorrow. I ask this because I sense a lot of resentment for people based on their choices. We all have them. We shouldn't blame another generation for having different priotities and investing in real estate. |
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Does anybody know if StatsCan releases data on how many people total there is born from a province that are still living? Like I’m curious to see how many New Brunswickers or Nova Scotians there is living in the province + other provinces. It would also be interesting to know the break down of province/country on birth for the population currently residing in each province.
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Stats Canada releasing construction cost percentage increases for the first quarter on 2024. Year over year Stats Can says, "Halifax (+8.1%) led the year-over-year growth in construction costs for residential buildings, while Moncton (+7.9%) led the growth of non-residential buildings."
Not the news we need. |
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Capital gains cash grab will be brutal for build-and-sell developers, too.
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This is a growth killer. It shaves so much margin off construction, selling small businesses themselves (like a medical practice or a farm, for a pertinent pair of examples), disposing of business assets, and so on. It's another thing designed to squeeze the upper middle class. I doubt billionaires are losing sleep. |
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Agreed. The truly wealthy won’t really bat an eye. The group disproportionately affected are the merely successful - the small business owners and the professional class. This tax also will have a negative effect on new apartment construction due to the cash grab on capital gains when these assets are sold. I mean, why bother. Just keep your money in a sock hidden under your mattress instead. |
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Crack down on tax havens and the things that only affect the ultra rich rather than going after those who have a little more. |
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With the federal investments in housing growth - which I believe should be bigger - the extra cash will end up back to the few who are investing in development while those who are just high earners contribute more to the safety nets and services that provide for the residents and the unhoused alike. I appreciate your perspectives though, this is classic good discourse, where there are different approaches to addressing issues, neither fundamentally wrong or hateful or harmful necessarily, simply different in their execution and priorities. I have the privilege of not worrying too much about the outcome, but it wasn’t that long ago that I did, and I try to remember that whenever I think of my policy opinions. |
The Statistics Canada CMA population update for July 1st 2023 will be released on May 22nd.
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https://tj.news/moncton-miramichi/mo...ough-developer (paywall) I will be looking forward to the release of the new stats with great interest. |
Where did they get their stats?
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Here's the story about the presentation to city council on Monday night:
https://www.919thebend.ca/2024/05/07/75070/ |
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In the meantime you have companies like Ashford sitting on prime land downtown supposedly going with a big project but too busy bickering with the city over small details. |
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