Musings, opinions and views on various topics, issues, news and sometimes taking the other side of the argument
Sunday, April 30, 2017
How Much Does it Cost to Run a Provincial Government With the Lowest Approval Rating Premier?
Here is the beginning of the answer to the question (highlights below). All the juicy details at https://files.ontario.ca/volume1-eng.pdf
And Yet Another Liberal Apology: Minister Harjit Sajjan Does not Know What "Architect" Implies or Means In Relation to Operation Medusa
Wednesday, April 26, 2017
Those Puffin Penguins: Your "Science and Fact-Based" Liberal Party At Work...
Tuesday, April 25, 2017
More Foot In Mouth Disease, But This Time It Is For the Camera: Trudeau Posing With Member of a Terrorist Group
Thursday, April 20, 2017
Ontario Real Estate Industry Takes the (Information) Highway: Are There Any Facts or Integrity at All in the Home Buying Game?
At last this data is finally being compiled and assembled and in Canada real estate purchased may have something objective to work with and make informed decisions. However...
With any product or service in the world (including houses, condos) there are reams of data on trends, competition/competitors, market studies, demographic breakdowns of purchasers (yes, including....what country they are from and/or race! Sigh! Gasp!). This data is necessary in order to understand the consumer, or from a purely investment perspective, whether a business (or a consumer) wants to be in that line before that product or service becomes the next dinosaur or it goes south. As such, consumer/business is able to exit ahead of time or use funds for another purpose all from making an INFORMED decision.
Conversely (and perversely) here in Canada, if I wanted to make an investment hypothesis that if China's GDP decreases in the next year, then what impact would that have on the amount of potential bidders and as such the impact on housing prices here in Canada so I can act accordingly based on my findings? For example, sell now or later?
Good luck! The info cupboard is bare. I'm sure if you entered "Ontario Housing Purchaser Demographics" in Google, the amount of "real" hard data would be the same as entering "Saskatchewan Navy"
Which begs the question, what were compilers of such data doing or avoiding to do before this? If these basic items are being asked for now, what information was available before? If any?
There have been a lot of real estate so called experts on radio and télévision over the years extending the virtues of owning Canadian real estate and claiming the Foreign Purchaser only comprises about 5.0% of transactions. And every word said with a straight face! Well we now know this is an over extended truth (in other words, something that rhymes with "pool kit").
Wednesday, April 19, 2017
Real Estate Wars: A New Hope (Will This Band of "Rebels" Be Enough to beat the Dark Side?)
As usual, a lot of promises, but the more important ones are the federally controlled issues. Morneau has pledge access to information (in Justin's "fact-based" way of governing) and that the CRA would "dedicate resources to ensure compliance in the real estate sector", also indicating Capital Gains Tax is not on the table (when it should be, the Capital Gains Tax exemption is open to ANYONE who purchases and sells real estate in Canada. If the different levels of government want to start cooling down the market, leave this cherished exemption only to Canadians!). It appears that Morneau has learned from Premier Christie Clark's split personality government, and "have agreed to refrain from introducing new measures for buyers which would impact housing price in the GTA by boosting demand".
No action or official comment until the upcoming Ontario Budget. We wait and see on April 27th.
http://business.financialpost.com/personal-finance/mortgages-real-estate/little-doubt-foreign-buyers-are-pumping-up-victorias-housing-market-says-bmo-chief-economist
And in Victoria, BC...
http://business.financialpost.com/personal-finance/mortgages-real-estate/little-doubt-foreign-buyers-are-pumping-up-victorias-housing-market-says-bmo-chief-economist
I do not hear in the background, "Cue the music to Star Wars IV: A New Hope" (Luke, Han Solo and....Chewbacca?)