Still undecided about the election?
I just wanted to touch on the government as it relates to real estate.
Real estate is under the jurisdiction of the Province, and so which Party in power is important.
Except for the rare circumstances when the Federal government gets involved (Foreign Buyers Tax, Principal Tax Exemption, HST or Capital Gains etc), the Province is responsible for everything else like the trading in real estate (licensing of realtors), land-use planning and also the Land Transfer Tax.
In my opinion, issues such as “affordability” or “inequity at the Landlord Tenant Board” can be fixed with more supply and hopefully the Party who wins will start to tackle that issue.
Although housing wasn’t really talked about much during the campaign, I thought the article below was a REALLY GOOD, in-depth analysis of the various platforms and gradings for each Party.
Sure, the Province’s major items are education and health, but housing touches all of our lives whether you are a homeowner, renter or landlord.
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