If only the crash could happen sooner than later and leave these smucks with lots of capital loss.

Question is “When is this bubble going to burst?” Should I buy now or wait for the burst???

Indeed unreal. Ultimately what convinced me to sell is the fact that this was more money than what I made after tax in 14 years living in Vancouver. And that is the unreal part.

The answer is: some councilors refused to support the tax unless miller gave a rebate to first time buyers, this allowed them to look good and grandstand to their constituents. miller gave the rebates, but when combined with dolt on e-guilty’s rebates to first time buyers- the unintended consequence is a massive bubble in the under 450k price range. there is no bubble in the higher price ranges.

A normal solution to revenue shortfall would be to raise property tax. miller, being a chicken shit, didn’t have the guts to do it. he figured: “I’ll just piss off the 5% of Torontonians who buy a house instead of all homeowners.” but all homeowners were receiving city services. fairness is not in the vocabulary of toronto city councilors.

example: family with 2 kids paying property tax on a TO bungalow for the last 10 years may have already contributed about 30k in property tax to city hall. they outgrow the bungalow and need to spend 600k for a bigger house. they would pay $16,200 to miller and e-guilty in new land transfer taxes. a first time buyer, or new Canadian off the boat can spend up to 450k and after rebates maybe pay around 2k in taxes . it’s the same activity- buying a house! one group subsidizes the other.
miller’s tax killed trade and city hall is still short of cash

eddy says- abolish first time buyer incentives, and dissolve cmhc- if a loan needs to be insured before a bank will touch it, the buyer isn’t qualified. these insurance schemes and rebates inflate the market, increase bubbles and force people with cash to pay more. in other words- cash is diminished in value each day.

“just sold my shoebox condo in Vancouver and make away like a bandit. I’m deeply conviced that to make that much profit, net $260k”

Unreal, you couldn’t make that kind of coin doing anything else. Just curious, how long did it take?