Home Truths: The Heavy Impact of Ontario`s HST on Housing

[Ally]

See attached for a BMO special report.

 

[GaryMcGowan]

Wouldn`t the HST drive the price of new home homes down under 400k and pulling resale homes down with it? The market could be flooded with homes price at 399k. The way I understood the article when a purchase price moves above 400k you would be forced to pay a graduated HST tax.

Ontario Government and its infamous wisdom!!

 

[Thomas Beyer]

QUOTE (GaryMcGowan @ May 5 2009, 05:39 PM) ...

Ontario Government and its infamous wisdom!!indeed ..
Socialism has failed in Eastern-Europe and South America .. but hey, it may work in Ontario ..

let`s tax what cannot move .. say real estate .. and let`s have anyone who is not in Ontario bail out the car industry ..

 

[JoefromTO]

I don`t understand why they would do this, especially now. It seems to me this would only serve to worsen the recession...please enlighten me.

 

[housingrental]

Certain efficiency`s gained with harmonized tax
Economists view it as net gain
Like almost any policy there are winners and losers...
Certain segments get screwed from it - ie property managers who will be dealing with 7% increase in costs next year.