Quote:
Originally Posted by ilovebacon
Yeah my parent house went up by 20% too.
What are the pros and con for this type of outcome. As a young adult, I don't really have much assets beside a vhiecle and going to school, so I wouldn't understand much about this market.
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As far as pros and cons go, I see absolutely no benefit to the home owner if the RE property is his primary residence, and he has no desire to sell / move in the foreseeable future. With an ever climbing RE assessment value, the only outcome for this type of people is they have to pay higher taxes.
The assessment value of my parents place fxxking went up by a whooping 30%, and I am estimating that their property tax will go up by $1k+ in 2016. Between me and them, I am not sure how we can suddenly / magically pull an extra $1k out of our a$$es.
As far as I am concerned, all 3 levels of governments are only interested in looking after their own coffers. Bike Boy only cares to keep the RE $$$ flowing, so that he can pave everything in Vancouver as bike lanes. Crusty doesn't want the foreign hot money to stop either, because she needs to keep up the facade that the BC economy is still going strong, and that we continue to run a budget surplus so that the idiots in the province can keep voting her in -- nevermind that the hard working BC residents are getting pushed out from their homes because they can't afford living in their hometown anymore. Pretty Boy needs the foreign hot money too, so that he can continue with his international charity work at Canadians' expense.
Damn... just since when have I become so jaded and cynical?
/rantover