Ontario to Impose Foreign Housing Tax

https://www.usnews.com/news/best-states/washington/articles/2017-04-20/ontario-canada-brings-in-foreign-housing-tax-to-cool-market

There goes another sanctuary…

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Ontario is also expanding rent control, which currently applies only to units built before November 1991. Tenants in newer units have complained of dramatic spikes in rent. The premier said officials are taking aim at speculators and are tackling affordability.”

Socialistic Toronto.

Land owners are under attack.

So long we can’t solve the housing and employment issues, the world can’t unite as one. Imagine no custom restrictions, the hot area becomes overcrowded with stratospheric high house prices.

Canada is socialist. .But most of this is xenophobia. .They are voting against immigrants inflating prices…

Now that I think about it, this global wave of anti-globalization, anti-capital is how we got Trump and Brexit. It gels with my thesis that we are on the cusp of a massive turn to the left. We are on the last gasp of Reaganism, and Trump is just a contradictory stop-gap between the past and future. The Right’s version of Carter.

We need to be extra careful in buying properties. Don’t buy anything with Class B or C tenants. The political climate is turning.

So Newark, Hayward, Stockton, … how about Oakland, Fremont, …
Outside SV, I’m not comfortable. So, Austin, Class A tenants :slight_smile:

In any city there are Class A parts, and B and C parts. I have properties in both Oakland and Stockton. Both are Class A.

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Just to be clear, how do you define class A, B & C. I understand roughly class A is good and class C is section 10?

No one has exact definition. It’s like porn: you know it when you see it.

Class A and C are easier to identify. Class B is more difficult. One person’s Class B may look like A to others.

I think it boils down to this: what tenants are best behaved and least likely to cause trouble? Buy where these people like to rent.

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Class A pride of ownership…Class C cash cow…

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and class B?

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I always thought of class B as blue collar or working class areas. You have higher rate of ownership, so they are nicer than C. There’s a lot of money to be made if B areas become trendy and gentrify to A.

Most apartments are class B…Class A is new or newer top of the line with amenities… .the secret to wealth accumulation is to buy class C, kick out the low life, rehab and turn the units into class B…The problem with class A unit tenants, is they will move out and buy…They are short timers…The best play on class A is build and sell…That is what my investment group is doing in Arizona. …25% projected IRR…2-3 time horizon. .Total return of up to 175%…or 75% profit…

Tax them! Screw them!

In my club, a foreigner doesn’t qualify as a “homeowner”. A foreigner is a foreigner, he can stay in his or her beautiful country and fight for it. Make it great again!

I am just repeating the mantra of those insulting illegal immigrants. Except those you call homeowners with any type of green card or tourist visa can go back and forth home and fight over there. Right?

Time to become a nationalist. Or, you didn’t vote for Twhitler?