This $2.2 billion tax giveaway is inequitable and short-sighted. Public funds and tax breaks should not be offered indiscriminately and unconditionally. They should be extended on a targeted basis, as
Of course they don’t want to lower property values. If you reduced house prices to pre covid cost plus a more standard increase, say 25% vs the 53% google tells me that has happened in Ottawa. Anyone that has bought recently would be absolutely screwed. If they end up having borrowed more than the house is worth, the bank isn’t going to let them renew. That’s a lot of people whose down payment would have evaporated.
So the have-nots should suffer for the benefit of the have-gots. They can’t even take a little bit of a hit for buying into the most overheated market of our generation for the benefit of people not fucking living and dying on the street, that would be improper. They should be protected from their mistakes because they’re rich and therefore matter.
Of course they don’t want to lower property values. If you reduced house prices to pre covid cost plus a more standard increase, say 25% vs the 53% google tells me that has happened in Ottawa. Anyone that has bought recently would be absolutely screwed. If they end up having borrowed more than the house is worth, the bank isn’t going to let them renew. That’s a lot of people whose down payment would have evaporated.
So the have-nots should suffer for the benefit of the have-gots. They can’t even take a little bit of a hit for buying into the most overheated market of our generation for the benefit of people not fucking living and dying on the street, that would be improper. They should be protected from their mistakes because they’re rich and therefore matter.