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Generational Squeeze, Canada’s Newly Proposed Home Equity Tax
Yet again, the Feds never cease to amaze me.
Not sure how a home that you paid $700,000 for 10 years ago, that now may sit at a value of over 1,200,000 should be considered profit with 300 monthly mortgage payments for a total of 1,353,032 (25 year mortgage at 6%) including a total interest of $653,032.

In Canada we are not allowed to write that off, so theoretically that would be a cost. If we take the total value of the home and subtract the costs that would leave us with the profit. Not sure what I’m missing here but to me it looks like a deficit, not a profit.

Write your local governance, write your provincial governance and write your federal governance.

Changes to a country are made with: good governance, solid leadership and strong economic policies. The housing issues are a direct reflection of supply and demand, economy 101.

#homeequitytax #canada #leavenow #updates #generationalsqueeze