Quote:
Originally Posted by iEatClams
on the plus side, if he chooses to sell his home, you just pocketed like a $200-300K increase in the last year alone (assuming you guys are in Vancouver).
Would take an average person over a decade to save that much money up, but he did it in one year. Many would love to have held an asset that appreciates like that and pay a little bit of tax (or defer it)
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Yes in Vancouver and it's true that if my parents decided to sell they would cash in hard not like they wouldn't have cashed in otherwise but sadly like a lot of retired folks they are not looking to sell and are faced with the same scenario. Fixed income, rising taxes etc. Another blow people are taking now is they can't even claim their grants any more and or have them reduced because their assessment values are going into or over the threshold. So that's potentially another $800 + dollars they have to now pay vs getting for free.