RealPatriotCan :
Canada's real issue isn't a lack of homes—it's too much greed! In Ontario, 24,000 condos are empty in 2025 alone. That doesn't even cover past empty units, other provinces, or townhouses. Developers and realtor corporations are hiking up prices, leaving regular folks in the dust.
The government, banks, and real estate players are all in on manipulating the market. Take Bill 60—it removed the HST and gave rebates to first-time buyers, but it just keeps property prices sky-high instead of fixing the real problem.
Over the past four years, the Canadian and Ontario governments have given land developers and condominium builders a lot of financial support:
Federal Government:
• 100% Bonus Depreciation: Developers can write off the full cost of new equipment or buildings in the first year.
• Opportunity Zones and LIHTC: Special areas with extra benefits for investors and more credits for affordable housing projects.
• Section 179 Expensing: Real estate businesses can quickly write off up to $2.5 million in costs for improvements.
Ontario Provincial Government:
• HST New Housing Rebate: Up to $30,000 back for new homes or condos.
• Ontario New Residential Rental Property Rebate (NRRPR): A rebate after closing for new rental properties, but you have to pay the full amount upfront.
• Land Transfer Tax Rebate for First-Time Home Buyers: Up to $4,000 back for first-time buyers, reducing the tax on the first $368,000 of the purchase price.
If these new buildings and condos aren't helping regular Canadians and Ontarians, why are we giving developers and realtor corporations our hard-earned tax dollars through handouts, rebates, and tax breaks? It doesn't make sense! It's time for the government to step in and buy up these empty units. They should start a program to help people get mortgages with fair terms, stop price gouging, reduce closing costs, and offer good interest rates. This will help more Canadians and Ontarians buy homes, support local businesses, and make our communities stronger. The government needs to act now to make housing more affordable and create a better future for all Canadians and Ontarians.
2025-11-06 06:29:10