Freakonomics argues that economics is, at root, the study of incentives. Ozzie and Michael cast a light on Real Estates driving incentives in this world of excessive cumulative regulation, Government intervention & ever increasing taxes.
Real estate is moving in many spots around the globe. You'll never guess where the hottest European real estate market can be found. Where the money is headed. Is there still be an elimination of the tax exemption for a home office?
Ozzie begins with a clarification of existing real estate tax laws vs what you can expect in the upcoming budget. The sleeper area he talks about has arguably the best weather in the west. As usual his two hot properties, ones a cottage.
Since BC raised taxes with a 15% foreign buyers tax, prices shot up 28% in Toronto. Now Toronto is going to bring in a similar foreign buyers tax. Ozzie on where is the foreign money is going to drive up prices now.
A forecast by Ozzie comes true with a 19% decline in Vancouver housing prices. The number of sales of single family dwellings is down tremendously and buyers are moving to different classes of dwellings