400$/month plus rent increases in Edmonton.
- Thread starter Jsan
- Start date
I think he wants to tear down your arguements because you are a fricken idiot...dude...you can't be for real...you are a trolling agitator. If you are for real, you are one messed up dude.
Maybe that is what is needed though. A slow down in the economy is the only thing that will bring things back into perspective somewhat. Right now, many businesses are having a hard time even keeping people...and that isn't good for them either...it's hard to run a business if you can't find employees. So, a slow down might be good for everyone involved...the housing prices will come down, there will be a tightening up of the employment market, and the economic insanity can chill for a bit.
Gee then maybe companies will have to increase the wages to get or keep people and then the high rent wouldn't be such a burden, assuming your job was one that resulted in higher wages.
$1600/mo would really hurt my wages but if I had to leave somebody would still take the place over. The owner of the place could have raised it because he knows somebody will rent, the more money he can jam into his pockets the better it is for him. When I left GP I sold a 5 bedroom house, a few months after that people were paying $900/mo just for a room with house privileges. I only really needed two of the bedrooms so I could have rented 3 of them out. An extra $2700/mo would have cleared up my mortgage quite quickly and nobody was asking for receipts. Since it was a large basement I could have squeezed in even a few more.
The obvious problem is if people have more money then demand goes up, supply stays the same so rent goes up. It is the cycle of inflation. What needs to be done is to address the supply. This means investing in better public transit so people can effectively live further outside of the city. The other thing is to reduce demand. This means raising property taxes so there is less incentive to be an absentee land owner.
S243a
Anytime you improve the transit system the house prices go up in the area because it is in demand.
When you look at increasing wages this makes inflation go higher.
When the market sees that you are making more money it will increase their prices.
Back in the 1960’s houses were thirty or forty thousand dollars most people were making around a dollar an hour and the man was working and the women were at home which means one income family and the mortgage was a shorter term.
Now in 2007 the house prices are averaging three or four hundred thousand dollars, you have double income homes and you can now get forty year mortgages.
I was watching a stock report and they were saying that Canada’s economy is good the jobless rate is low and a lot of investors are buying the Canadian dollar, which is a signal that interest rates are going to go up.
And when interest rate go up then the house prices will come down.
Anytime you improve the transit system the house prices go up in the area because it is in demand.
When you look at increasing wages this makes inflation go higher.
When the market sees that you are making more money it will increase their prices.
Back in the 1960’s houses were thirty or forty thousand dollars most people were making around a dollar an hour and the man was working and the women were at home which means one income family and the mortgage was a shorter term.
Now in 2007 the house prices are averaging three or four hundred thousand dollars, you have double income homes and you can now get forty year mortgages.
I was watching a stock report and they were saying that Canada’s economy is good the jobless rate is low and a lot of investors are buying the Canadian dollar, which is a signal that interest rates are going to go up.
And when interest rate go up then the house prices will come down.
How would raising property taxes deter absentee landlords? In this economy they'd just work the extra costs into the rent for the tenants to absorb.
More talk about the skyrocketing rents in Edmonton on the news tonight. They interviewed a young single mother who just got handed a 485$/month rent increase. this is getting out of control. And as usual, the Alberta governments response is "Well as long as the landlords are getting rich, we are happy", more tax money for us!!!
Why isn't rent, and a lot of other things, tax deductible. When my employer gives me a cheque that same amount (more or less) is a deduction for him.
Rent is a income for a landlord but the renter is shafted by not being able to declare it as an expense in association with being employed. If not having to live in a certain area then his rent could be a lot less because he could be living in a 'cheap part of the country'.