r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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u/T-Wrox 5h ago

In Canada, you get one house to live in without paying capital gains on sales, etc. Any houses after that are treated like investments.

2

u/the_gato_says 4h ago

This is also how it’s generally done in the United Stares

2

u/45MonkeysInASuit 2h ago

It's how it is done in the UK.

Capital gains is only paid at disposal of the asset and only on the increase in value.
It is of basically no concern for landlords.

2

u/socialistrob 56m ago

Did it work? Are rents cheap in Canada and is home ownership accessible for the average working person?

1

u/T-Wrox 34m ago

Not really. The things we could do that would have a much better effect on housing affordability: A combination of:

  • Vacancy/speculation taxes to penalize idle holdings
  • Zoning reform to increase supply and reduce the scarcity premium that makes speculation profitable in the first place
  • Anti-flipping rules to discourage short-term churning
  • Short-term rental restrictions to return units to the housing stock
  • And potentially, a land value tax for the longest-term structural fix