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Originally Posted by stewie
I'm a bit confused then. What's the point of having a P.E.I investors program? Is it just an excuse to lend some money and go elsewhere? Just a way to track how many investors are going to which province. If so that's a failure of a program. 90% that apply through P.E.I wont be there for very long lol
Of course we have different view points but I just think that if someone is here as an investor that's part of a program for a certain province they should be staying in that province until the program is finished - citizenship..if they make it that far. While part of the program they can buy and work anywhere in that province.
This is apples to oranges but hopefully you can get the picture I'm trying to word out and relate it to what I wrote above. If I invite you to my house for dinner and you choose to come in, great. Just because I let you in doesn't mean I wan't you walking around with your shoes on, going into my bedroom and laying on my bed to watch tv. People may say 'my house is your house' when a guest comes over but they don't mean it. My house is your house...to an extent.
Does that come off making me sound like a d-bag?
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They changed the IIP in 2014. It's only Quebec now. 1400 allowed annually, I believe.
Of course that doesn't matter. They still jet 2/3rds to Vancouver West end and 1/3rd to Toronto anyways.
Works out 'great'. Quebec gets the 800$k interest free loan, and Vancouver gets the inflated housing market. With pennies of revenue through income tax.
Quote:
Originally Posted by originalhypa
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It's almost like the government is turning a blind eye to the real cause...
Build more. Raise interest rates. Increase density. Foreign tax.
Does nothing for affordability. Just increases revenue.
That 5% of non residential owners works out to at least 30% of the capital in the greater Vancouver market. And that's a modest assumption.
No shit it's effecting it.