Originally Posted by 4444
Omfg, go away.
So, income on property is basically tax free, thanks to our friend CCA, in the near term, at least, and interest (100% levered - try doing that on your principle residence)
Capital gains, well, they're taxed at 1/2, which is nice, but I'm not sure I'll ever sell, rather, just take equity out of the properties as they increase in value, tax free - tenants pay for my costs more than handsomely.
As for buying my place and enjoying those tax free gains... Well, there are no gains right now, we're at a top, no gains, so tax efficiency of this is irrelevant, plus would cost me about $700 a month more to buy my place than rent it (not including principal pay down)
Again, you keep on saying I'm bitter that I didn't buy - not at all, I'll repeat what I just said, when prices were reasonable, I was in university, paying for my education, I left uni with no debt and a reasonably nice car, beyond that I have gone into workforce, got way more education,etc. an education that is way more valuable than the increase in real estate of some shitty condo that I would have bought in 2000 after leaving highschool, so nope, not bitter, in fact, even with hindsight, I wouldn't have changed a thing.
So, you can leave now, you've tried to mock me, it has failed
|