Rick  Power

Rick Power


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The average sale price of a home is Canada has almost doubled since Trudeau took office in 2015. The average sale price of a home at the end of 2015 was $360,600. Currently we are at $680,000. Trudeau loves foreign investment so does nothing to prevent the problem. Why should a foreigner have more buying power in our country then we do??? Current exchange rate for the US dollar is 1.26% and the foreign investment tax is only 15%. That means an American has an 11% advantage over a Canadian to buy a house in our country. Short term rentals like Airbnb also escalate the problem. Residential property is being bought for the sole purpose of profit. That should only be allowed for commercially zoned properties not residential, and foreigners should be taxed on the income appropriately. And try and get a mortgage. The average Canadian household income in 2020 was $71,700. I used the mortgage calculator on realtor.ca and with 20% down that will only qualify for a mortgage of $430,000. BTW the average household income is also down from $80,940 in 2015. I have rounded the numbers slightly for simplicity, but you get the general idea. I also tried to find the national debt and came up with 612.3 billion in March of 2015 to 721.4 currently. Nice job Trudeau, obviously something other than the best interests of the people of Canada has not been your priority. In fairness let’s all post how much better our lives are now compared to when Trudeau took office in 2015. Me personally I’m very fortunate to be making more money, but with tremendous effort, continuing refusal to work with foreign investors and always trying to figure out how to afford my ever increasing expenses and taxes year after year.

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