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What Happens When Government Manipulates and Distorts Real Estate Market

Tuesday Dec 11th, 2018

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The crazy rise in house prices across southern Ontario (which should have been taken care of then) in 2016-17 was a big money maker for the government. The Public Accounts show the province earned $2.73 billion in land transfer tax, a 29 per cent jump from 2015. Province was projecting even more land transfer tax 2017-2018, close to $3.14 billion, but due to new regulations RE Market screeched to a halt. As of today Real estate slowdown costs Toronto nearly $100-million, and it could cost... [read more]

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