The Trudeau Liberals announced that you now have to report the sale of your home on your income tax return. Up until now when you sold your ‘primary residence’, you didn’t have to pay any taxes on the money you may have made as profit.
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What does it mean for us as real estate investors?
We have always like Calgary and Edmonton and in my newsletter we recommend buying there again – but not yet! A close look at the two cities shows both condo markets are holding up, perhaps surprisingly, well, but there are marked differences. Here is a look at the Calgary and Edmonton condo markets as of
Recreational island investing … often it is better to poke yourself with a sharp stick in the behind. 8 reasons why you have to be very careful: Things to do – why you should be doubly careful when investing In Your Island in the Sun We forget that islands take ferries (some take 3 ferries) Building at waterfront could be impossible (can no longer
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Old, low-rise rental apartment buildings in New Westminster are now selling for around $160,000 per door and for upwards of $440,000 per door in Burnaby’s Metrotown! But, prices are also rising in Surrey, Langley and as far out as Abbotsford as the blast radius from Vancouver’s multi-family boom continues to spread. The big mover is Burnaby, because the city
You are reducing the value of your condo! When time comes to sell you take out about 50% of the buyers that want to buy for investment. Many condo councils are voting out tenants (you then can only rent to family members) and yes they can do that! The idea seems to be that tenants are problems. Actually
Vancouver is not the second least affordable place on the planet to buy a home, not even close, according to researcher and blogger Ng Weng Hoong (email@example.com) who has lashed out at the “urban myths” surrounding Vancouver’s housing market which he says a spoon-fed media continually parrots. Hoong says the media relies on the annual Demographia survey. Its 2016 report was released
A sharp reversal in Hong Kong home sales. Condos down 20%. Some panic selling (South China Morning Post). Further, the local Centaline Property Agency estimates that total Hong Kong property transactions in January were the worst month since 1991, when it started compiling monthly figures. In other words, the biggest drop in recorded history! A sale of a big condo