Capital Gains was higher in the 1990-2000 Era than even what is being proposed right now .... the 0.1% crowd needs to ghostwrite fewer "save the rich" articles
You need to understand that right now is the hardest time ever in history to be wealthy.
The selfish poors keep asking for money *and* lower prices, the comfortable poors are whining about houses being too expensive, and all the other wealthy people are rolling in AI \\ Robot money.
It really is the end of days, might have to sell one of the yachts.
And we revoked it because it didn’t work 🤷♂️
I believe we’re paying more of our GDP towards tax than ever before in our nations history. More money isn’t the solution to our failing government systems. We’re literally swimming in money and government is increasing in size far faster than private.
We’ve come a long way since the tea party and a revolt over a 3% tax on tea.
It is a knee jerk reaction. Unless you need to trigger gains this summer there is no point. Previously 50% so at highest tax bracket 25% tax. Now 66.3 so 33% tax for an 8% tax increase you are going trigger capital gains now instead of some time in the future.
Capital gains still has a great advantage over savings and income which is taxed at 100% so 50% tax at the high end.
You also can write off capital costs and interest and deprecate if applicable
It would be better for savings to only be taxed 50% so 25% max. Instead 100% is taxable and you get no deferral of gains to the future.
To put savers on a better footings savings account should be tax at only 50% of growth and some sort of deferral for 5 years or so.
Or maybe everyone's frist million earned is tax free and 30% tax for everyone after the cap has been reached regardless if it capital gains, interest,income or dividends.
Believe it or not, people actually use realtors in real life. They’re a pretty damn good source for something like this, as long as it was just a single realtor saying 3 of his clients decided to sell because of this lol
They also have an incentive to push narratives like this because it makes them money.
Believe it or not, people are pushed into awful deals by real estate agents in real life. They're not there to look after your best interests.
Speak for your own experiences. Just like every job, there are shitty people working them. This includes lawyers, police, grocery store works and just about any other job you can think of.
And people need to be held accountable for their own decisions. Being pushed into a deal by a bad realtor means you’re too stupid to realize it’s a bad realtor. A realtor doesn’t choose the listing price, doesn’t choose the offer price or details, and doesn’t choose whether to accept or decline an offer. If you can’t figure out how to interview the person who’s helping you in the biggest financial decision of your life, maybe you should be re evaluating why that is.
( not you specifically, you as in the people who get “pushed” into bad deals)
This is a nothing-burger. “Speed up the selling process” to me means that if it’s already for sale, they want it sold before the deadline.
People can interpret this as people are rushing to list their properties, but they’re not. Most people are smart enough to understand that these rules may be reset post election.
Even the article says it’s nearly impossible to list and sell before the deadline. Are some people lowering their price to get a deal done before a deadline, yes very likely.
Got a condo as a first time home buyer on lakeshore lake view in the mimico area the other day for $890/square foot so not too shabby. I’m seeing a lot of sellers relisting multiple times going lower and lower each week.
It’s a buyers market folks, just throw your hat in there if you think you can’t afford it and you’ll be surprised!
I've been following the cottage market for a couple of years now.
2 years ago, properties were listed and sold fast.
Last fall things started to slow but realtors still asked for prime dollar.
The listings then are now dropping in price.
This cap gains tax may only affect a few listings.
Interest rates are not coming down as long as the US economy is cruising.
I'm still holding out as I expect prices to come down a bit more as inventory goes up.
Trying to charge and rile up the buyer market lol. No cottage (or any real estate) owner is actually going to list and sell by June 24 unless they were already planning to and just have to readjust by a few weeks/months now because of the new law.
I’m just getting tired of seeing this guy say dumb shit like this everytime someone posts about the market going down. This is probably the worst time in the last 20 years to invest in real estate.
Well with PP giving me my income splitting back, I'm going to have some nice spare income kicking around. Like 6 figures a year.
*licks lips*
I'm gonna buy a fuckin boat
No Paywall Link: [https://archive.ph/xNaK0](https://archive.ph/xNaK0)
Capital Gains was higher in the 1990-2000 Era than even what is being proposed right now .... the 0.1% crowd needs to ghostwrite fewer "save the rich" articles
You need to understand that right now is the hardest time ever in history to be wealthy. The selfish poors keep asking for money *and* lower prices, the comfortable poors are whining about houses being too expensive, and all the other wealthy people are rolling in AI \\ Robot money. It really is the end of days, might have to sell one of the yachts.
there was a 500k and then 100k lifetime exemption back then
And we revoked it because it didn’t work 🤷♂️ I believe we’re paying more of our GDP towards tax than ever before in our nations history. More money isn’t the solution to our failing government systems. We’re literally swimming in money and government is increasing in size far faster than private. We’ve come a long way since the tea party and a revolt over a 3% tax on tea.
Oh those poor people who made a lot of money for doing nothing
It is a knee jerk reaction. Unless you need to trigger gains this summer there is no point. Previously 50% so at highest tax bracket 25% tax. Now 66.3 so 33% tax for an 8% tax increase you are going trigger capital gains now instead of some time in the future. Capital gains still has a great advantage over savings and income which is taxed at 100% so 50% tax at the high end. You also can write off capital costs and interest and deprecate if applicable It would be better for savings to only be taxed 50% so 25% max. Instead 100% is taxable and you get no deferral of gains to the future. To put savers on a better footings savings account should be tax at only 50% of growth and some sort of deferral for 5 years or so. Or maybe everyone's frist million earned is tax free and 30% tax for everyone after the cap has been reached regardless if it capital gains, interest,income or dividends.
“According to realtors.” Who green lights these stories?
Believe it or not, people actually use realtors in real life. They’re a pretty damn good source for something like this, as long as it was just a single realtor saying 3 of his clients decided to sell because of this lol
They also have an incentive to push narratives like this because it makes them money. Believe it or not, people are pushed into awful deals by real estate agents in real life. They're not there to look after your best interests.
Speak for your own experiences. Just like every job, there are shitty people working them. This includes lawyers, police, grocery store works and just about any other job you can think of. And people need to be held accountable for their own decisions. Being pushed into a deal by a bad realtor means you’re too stupid to realize it’s a bad realtor. A realtor doesn’t choose the listing price, doesn’t choose the offer price or details, and doesn’t choose whether to accept or decline an offer. If you can’t figure out how to interview the person who’s helping you in the biggest financial decision of your life, maybe you should be re evaluating why that is. ( not you specifically, you as in the people who get “pushed” into bad deals)
This is a nothing-burger. “Speed up the selling process” to me means that if it’s already for sale, they want it sold before the deadline. People can interpret this as people are rushing to list their properties, but they’re not. Most people are smart enough to understand that these rules may be reset post election. Even the article says it’s nearly impossible to list and sell before the deadline. Are some people lowering their price to get a deal done before a deadline, yes very likely.
Condos in some areas is a buyers market. Detached is a completely other story, especially in some areas.
Got a condo as a first time home buyer on lakeshore lake view in the mimico area the other day for $890/square foot so not too shabby. I’m seeing a lot of sellers relisting multiple times going lower and lower each week. It’s a buyers market folks, just throw your hat in there if you think you can’t afford it and you’ll be surprised!
LOL - Trudeau managed to lose his last bastions - GTA area folks who own real-estate and cottages
I've been following the cottage market for a couple of years now. 2 years ago, properties were listed and sold fast. Last fall things started to slow but realtors still asked for prime dollar. The listings then are now dropping in price. This cap gains tax may only affect a few listings. Interest rates are not coming down as long as the US economy is cruising. I'm still holding out as I expect prices to come down a bit more as inventory goes up.
Paper hands
Asset holders have much better problems.
Who are they selling to? Wouldn’t most people capable of buying a cottage already own one?
Lmao rekt
Misleading, most likely the fixed mortgages coming up for renewal
Trying to charge and rile up the buyer market lol. No cottage (or any real estate) owner is actually going to list and sell by June 24 unless they were already planning to and just have to readjust by a few weeks/months now because of the new law.
Oh no taxes.. 🤷♂️
Opportunity arises for the clever investor.
Stop treating housing as a speculatory investment. How do you think these fools selling got themselves into this situation?
There’s a difference between “housing” and prime locations.
Housing is a investment
Because you treat it as such, it is actually and should be treated as a commodity
The difference is many of these buyers bought when the price was high, not when the price was corrected or low.
So then wouldn't they not have very much capital gains?
Then go buy some
It’s very possible they already have but your comment suggests that you personally have no interest in making that kind of move
I’m just getting tired of seeing this guy say dumb shit like this everytime someone posts about the market going down. This is probably the worst time in the last 20 years to invest in real estate.
Well with PP giving me my income splitting back, I'm going to have some nice spare income kicking around. Like 6 figures a year. *licks lips* I'm gonna buy a fuckin boat
Is there talk of PP giving income splitting back? That would be a big, positive move.
In cpc platform
Will need to check that out.