Thursday, November 06, 2008

This And That

Snap out of it Alberta - "House prices were skyrocketing, and real estate was being snapped up online, sight unseen, for above list price. People were bribed with iPods and other crazy perks to work at doughnut shops. Bentley dealerships couldn't keep up with demand. The Bank of Canada came up with a new category of economic indicator - "Canada excluding Alberta" - because Wild Rose Country was skewing the national averages.

As a result, Alberta built up a delusional superhero persona, a false sense of invincibility that permeated the mood and expectations of ordinary citizens."

Yeah we are superhuman if we took hits that everywhere else took and still have an economy that the world envies we can't be doing too badly right!

Tax change on investment properties would spur development, realtors say - "With a change to the federal tax system, realtors say Ottawa can create thousands of jobs, make advances in cutting greenhouse gases and hand communities more control of their own development.

The Canadian Real Estate Association (CREA) wants Ottawa to defer collecting the capital gains tax and capital cost allowance from investment properties when a property is sold and the money reinvested in real estate within a year.

The goal would be to "unlock" properties kept off the market because owners simply don't want to pay the tax owed."

This would be an incredible bonus to real estate investors, very similar to laws in America that allow you to "roll over" your profit into a new property. If you have ever played Cashflow you would have heard of it. This is an excellent way to keep investors moving their properties - an incentive to sell and move up in the market.

Alberta to spend $757000 to help house homeless people in Edmonton - "Alberta will spend $757,000 this year on a pilot project to help provide housing for homeless people in Edmonton. Under the Rapid Exit Shelter program community groups wiill work with the Hope Mission to find safe housing for 80 people. The funding is part of the province’s plan to spend $93 million for services for the homeless throughout Alberta."

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