The real question is why municipalities need so much more revenue. If people saw how unproductive municipal governments are, they would demand that it gets cut to a skeleton crew. Anything the skeleton crew drops must not have been that important.
I work in municipal government and it’s so frustratingly unproductive. Everything we use are legacy systems. We use tech that makes our jobs extremely inefficient. It’s just so much bureaucratic nonsense. Obviously it’s a secure job and that’s why I am holding onto it. Certainly doesn’t make me feel that great
The truly remarkable thing about the increase in permits, development charges, code changes, and inspections is that the true cost is much higher because each of these adds hidden costs to each build. Whether it is through increase in labour, material, or extra subcontractors, consultants to fulfill the requirements of new bureaucratic mandates and rules.
Will Volkswagen ever actually build their battery manufacturing facility in St Thomas Ontario that the Canadian government has pledged billions of dollars for?
EVs are not selling anymore, and all manufacturers would love to dump all pointless investment in such a stupid idea, they lose money on every rare sale of one
To answer my own question. I wouldn't be surprised if they built it, occupied the facility for a few years, and then shut it down. This kind of thing has happened numerous times when governments go out of their way to financially incentivize individual corporate projects for the purpose of job creation. The cost to taxpayers for each job created at that plant will be astronomical.
Some of those costs are valid but inflated. Some are because of over regulation and very bad planning. In our area they just ripped up perfectly serviceable pathways and repaved them. Then a few days later they ripped up the ‘ends’ of the path near the sidewalk to pour concrete to store e-bikes and e-scooters for a vendor, paid for by residents. It’s stupid people in government wasting tax dollars. Cut taxes 25% with no borrowing and force massive government reductions.
You are exactly right about looking at the UK. They are ahead of us in the cycle. Taxes will go up no matter who is in power. We are unfortunately in worse shape going forward due to our high household debt and high housing cost in relation to income. It is what it is.
The loonie is doing so bad against all major currencies especially the Euro. I am waiting to dump my loonies without losing my shirt but it's never a good time. It's collapsing a little more every day, just like the government of Canada bad decisions.....which of course affect the CAD for the worst.
100% on central banks not controlling rates. How about rates floating with the data on a quarterly basis? The CB's always overcorrect one way or the other.
13:52 yes the municiple corporations chose to charge new home owners 10 years of taxes in one purchase, to stave off having to increase taxes to the rest of home owners, thats why i toronto and ottawa municplalities are warning taxes will actually go up 7-10%, is this a resukts of lower building charges?
The rise in development charges is not a surprise. Cities decided to use stealth taxation to keep their cities running rather than raising property taxes. It will be up to Doug Ford to stop this practice (in Ontario). If it is stopped however, property taxes in Toronto would likely have to rise 20-30%. That kind of increase is unpalatable. The developer argument for lower development charges however, doesn't deal with both sides of the affordability issue. So we reduce the cost of a new condo but whoever buys it...investor or otherwise, will now be facing huge property tax increases - which by the way, you will pay, every- single- year going forward.
People could not afford at 20 to 30% property tax increase, we are already paying INSANE property taxes in Canada. Government, and government spending is OUT OF CONTROL. The government has its hands in all sorts of stuff it has no business in, or offering, it can't afford it
I agree.... If Oil tanks and the BoC still thinks it can "ride to the rescue" of the Real Estate Market without lockstep US Fed lowering..... think again, and look out below for the Canuck peso if the BoC does !
Thanks for the update. I advise traders, especially beginners, to research the market before entering it. I have to say that trading is more rewarding than just owning. Big thanks to David Frank who always keeps me updated. I am so glad I started his program
You are right, you can't just hold and expect to be very successful in Bitcoin………..Everything here is really really cool to me and i am reaching out to him right away…..
What I would like to know in the discussion on development charges is what development charges would be necessary to cover 100% of the costs of growth. Like instead of talking about always how they've grown in cost relative property taxes, let's go back to the fundamentals of why they exist and ask ourselves what does it cost on average to provide new schools, digging up the road to provide new greater infrastructure, etc. because growth should pay for growth so that would help decide if on average it makes more sense that they're in that 2 to 4,000 range versus 40,000 range. The city budget should be looked at itemized and averaged over time and the maintenance portion should be fully covered by property taxes while the growth portion should be fully covered buy new development charges. Rich pointed out that it was 10x, But the question is was the original amount anywhere close to enough? I feel like the reality is likely somewhere between those two values, which probably means development charges could go down by half but again I would like to determine them based on the actual financials and not feels. And to Rich's point on taxing housing as an essential good, I think the argument there is that we don't tax rent I believe? That's the cost of purchasing housing services, quite a bit different than actually buying a home. But I do agree that GST on house construction seems a bit silly, development charges make sense so growth pays for growth GST seems a bit much because ultimately it does get passed on. What to tax is a very interesting point as well that you touched on a bit. I can see the economic case for taxing consumption instead of investment, trying to follow what economists refer to as more efficient taxation that doesn't give you bad incentives like limiting investment is good if it ultimately leads to productivity increases, as productivity is the only free lunch and the ultimate goal to increase the pie. However it does make me think about how we craft the tax policy in a very globalized world, as putting taxes on foreign companies and people who profit from Access to your market does seem like something you would want and a reasonable trade-off for them getting to participate in your market. However doing so either ultimately gets passed down to your consumers anyway, or disincentivizes investment. But this is also a bit of trying to square the circle with the idea of progressive taxation and ensuring that the total tax burden everyone faces increases as a percentage for every additional marginal dollar they earn. To me that's a very important base value and I do feel like there should be some sort of activity irrelevant adjustment that ensures but nobody making X dollars pays a lower percentage of tax than anyone making x minus 1 dollar (or equal but you could in this case scale it to be a smooth formula where every marginal dollar does change the tax rate like a thousandth of a percent). The idea of applying these taxes " after" The market decisions on how to make them income source would be irrelevant, But is a bit of a conundrum when you're talking about dollars leaving country and therefore the tax base You need to tax them as they do so which would need CBDC levels of tracking of funds and would ultimately reduce foreign investment.
I love that Rich brought up the fact that other countries tax spending rather than income and investments. I hate that trend from Canadian conservatives to always cut sales taxes, but never income taxes. If we want to boost our productivity, we need to stop punishing income. Why work hard to make $100k that will be taxed to death when you can just buy homes, sit on them and sell them to pay capital gains taxes on 50% of profits? That's the big problem that Canada is facing right now. Rebalancing taxation to reward hard work will naturally deflate the housing bubble as more people will be tempted to work hard.
A car I bought just 4 years ago costs over $6000 dollars more now, in 4 years.😮 A massive increase in 4 years. I'm afraid the Boomer in the room is the only one with a grip there these days. Removed percentage because people are going to argue about it, but it was a cheap car to begin with.. and it's hard to do comparison becuase they Removed the manual transmission option in 2024
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement.
As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Kristine Lynn Weber is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Kristine Lynn Weber, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Without a doubt! Kristine Lynn Weber is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted based on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally.. What's your take on this approach? and How can i reach her, if you don't mind me asking?
The City should be charging developers on the land. If they purchase a piece of land and build twelve houses on it, the price should be the same as the same land with 400 condos. Why are we charging developers for the air above the land? If you utilize the air above your land that should be a bonus for you.
400 units demands more on infrastructure usage. More water consumption, more wastewater treatment, more roads, and after a certain percentage increase means another fire department and more police.
@dutchgirl7603 the owner of the condo unit pays the taxes for those things. If what you said was true, the homeowner wouldn't be paying taxes on their home for the next 40 years. P.S. Liking your own comments is distasteful.
🙌 I really appreciate your clear and simple breakdown on financial pitfalls ! I lost so much money on crypto market but now making around $5k $7k every week trading different cryptos and stocks
I have been struggling with stock and forex since 2022 making loose every time. I am struggling financially and am about to give up. Please please can someone reach for me and help me with trading please. I will appreciate it. Thank you
Yeah! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Anna imagine investing $12,000 and received $22,000
Look up the definition of Pigouvian Taxes then explain how taxing new housing does not obviously reduce supply of new housing. Next grab your tinfoil hat and start to think about what first principles a government would need to have to proudly advocate increasing income tax for any group...even "The Rich".
Is it an economic show or a political one? At around 9:25 mark, did someone say that Trudeau increased the development charges? Those are municipal charges, not federal. The cities / municipalities charge the development fees, and they are the ones keeping the property taxes low and cover the infrastructure cost by charging the development fees. The federal government is now offering infrastructure funds to municipalities to ease bylaws and reduce charges, which the conservatives plan to abolish.
@zahadoom4488 builders pass it on, only the buyers pay it. Then let's stop complaining about the housing affordability and the development charges and celebrate that the existing home buyers have lower property taxes. The additional population of the city/ municipality, will also expand the munciple tax base and help with the miniciple revenue.
@MyUA-cam-yb7xc the builders should pass it on to the buyers, they are the ones creating the need for additional infrastructure. Most people don't want any more people in their town or cities. Blows me away why people think these costs should be downloaded on citizens who've already lived there or had to pay the burden of these costs when they moved in years ago... The problem is government spending is out of control and property taxes are being leveraged amd artificially raised to support massive inflated budgets. It's criminal and a form of gentrification.
@zahadoom4488 The city life works differently. By this logic, when the city needs to replace a 750k to a million dollar fire truck, or old police cars or aging sewage infrastructure, that should only be billed to the people who have been previously living there, created demand for that infrastructure, and used it for 30 years. The new citizens should only be paying for the things serving their new subdivision and not for repair or replacement of old roads in the city that don't go to their own home. But, the civic life works differently. And somehow people like to live in larger cities like Toronto, NY, LA, etc. Why? Because they have better hospitals ( plural), universities ( plural), office towers, job opportunities, facilities, and so on. If everyone adopts the NIMBY rationale and puts everything new people, the towns and cities won't grow. The best hospitals and infrastructure benefit everyone, and everyone should share. It used to be the property taxes that paid for such things, and it changed sometimes in the last 3 to 4 decades, gradually getting worse. But your argument makes it clear that it's not the federal government's responsibility, which I kind of agree with. Also, by the same logic, the rising home prices are a great thing, as most homeowners benefit from it and get rich er er... who cares about the next generations, if I am chilling, and can't see beyond my own backyard 😎
The real question is why municipalities need so much more revenue. If people saw how unproductive municipal governments are, they would demand that it gets cut to a skeleton crew. Anything the skeleton crew drops must not have been that important.
Safe injection sites need funding. Go Canada!
I work in municipal government and it’s so frustratingly unproductive. Everything we use are legacy systems. We use tech that makes our jobs extremely inefficient. It’s just so much bureaucratic nonsense. Obviously it’s a secure job and that’s why I am holding onto it. Certainly doesn’t make me feel that great
them pensions
@@freemindcanada9319jokes on us, they will be worth cbdc units so we can buy kraftdinner!
5% raises every year cost $$ and no level of Government is into shrinking budgets. Municipal debts are getting silly now too.
The truly remarkable thing about the increase in permits, development charges, code changes, and inspections is that the true cost is much higher because each of these adds hidden costs to each build. Whether it is through increase in labour, material, or extra subcontractors, consultants to fulfill the requirements of new bureaucratic mandates and rules.
I live in a luxury condo in Playa del Carmen. My property taxes are 1500 per year. That is pesos btw or about 100 cdn
Will Volkswagen ever actually build their battery manufacturing facility in St Thomas Ontario that the Canadian government has pledged billions of dollars for?
Well they are closing three plants in Europe, including one in Belgium where an Audi EV is made, so 🤷?
they won't have a choice thanks to the US and Nord Stream
Can’t afford an ice car let alone an electric. Just more waste of tax dollars. Just let me buy cheap Chinese cars like everything else I buy.
EVs are not selling anymore, and all manufacturers would love to dump all pointless investment in such a stupid idea, they lose money on every rare sale of one
To answer my own question. I wouldn't be surprised if they built it, occupied the facility for a few years, and then shut it down. This kind of thing has happened numerous times when governments go out of their way to financially incentivize individual corporate projects for the purpose of job creation. The cost to taxpayers for each job created at that plant will be astronomical.
With the lower canadian dollar, prepare to pay more for fruit and vegetables imported from US over the winter.
Housing will never be fixed here, but we are trying to do something about it. 99 year leases...ughhh.
That halloween joke by keith was hilarious 😂
So much to talk about, next weeks loonie hour is going to need to be a $1.50
Some of those costs are valid but inflated. Some are because of over regulation and very bad planning. In our area they just ripped up perfectly serviceable pathways and repaved them. Then a few days later they ripped up the ‘ends’ of the path near the sidewalk to pour concrete to store e-bikes and e-scooters for a vendor, paid for by residents. It’s stupid people in government wasting tax dollars. Cut taxes 25% with no borrowing and force massive government reductions.
The City of Surrey was spending $8 million a month maintaining a second police force.
They expect developers to front infrastructure costs.
In Nova Scotia and Atlantic Canada HST is 15%... plus permitting. Government makes more money than the builders.
You are exactly right about looking at the UK.
They are ahead of us in the cycle. Taxes will go up no matter who is in power.
We are unfortunately in worse shape going forward due to our high household debt and high housing cost in relation to income.
It is what it is.
The loonie is doing so bad against all major currencies especially the Euro. I am waiting to dump my loonies without losing my shirt but it's never a good time. It's collapsing a little more every day, just like the government of Canada bad decisions.....which of course affect the CAD for the worst.
Even worse with the pound stirling.
100% on central banks not controlling rates. How about rates floating with the data on a quarterly basis? The CB's always overcorrect one way or the other.
a lot of Christians and Jews dont celebrate Halloween. Its pretty common here in the USA
I am curious as to what are the potential crises that Keith could see happening?
13:52 yes the municiple corporations chose to charge new home owners 10 years of taxes in one purchase, to stave off having to increase taxes to the rest of home owners, thats why i toronto and ottawa municplalities are warning taxes will actually go up 7-10%, is this a resukts of lower building charges?
Chamath has gone full Bitcoin on the All-In Podcast. Just waiting for Rich to take up that mantle
The rise in development charges is not a surprise. Cities decided to use stealth taxation to keep their cities running rather than raising property taxes. It will be up to Doug Ford to stop this practice (in Ontario). If it is stopped however, property taxes in Toronto would likely have to rise 20-30%. That kind of increase is unpalatable. The developer argument for lower development charges however, doesn't deal with both sides of the affordability issue. So we reduce the cost of a new condo but whoever buys it...investor or otherwise, will now be facing huge property tax increases - which by the way, you will pay, every- single- year going forward.
People could not afford at 20 to 30% property tax increase, we are already paying INSANE property taxes in Canada.
Government, and government spending is OUT OF CONTROL.
The government has its hands in all sorts of stuff it has no business in, or offering, it can't afford it
I don’t celebrate Halloween. It’s a witchcraft feast .
how do we make money on CAD dropping? that would be useful to know
Go long USDCAD
Own assets, currencies and investments denominated not in CAD. USD being the safest bet. You can also go long hard assets like gold and bitcoin.
Yeah. Commodities prices in USD are working for me.
You can't. Only losing money.
You forgot to include the Canadian dollar vs the Mexican Peso
On par tomorrow 🤣
Good to see the dollar prediction finally coming through.
Curious if you Steve is still bullish on Calgary real estate? What’s your view on Calgary mid and long term?
I agree.... If Oil tanks and the BoC still thinks it can "ride to the rescue" of the Real Estate Market without lockstep US Fed lowering..... think again, and look out below for the Canuck peso if the BoC does !
Thanks for the update. I advise traders, especially beginners, to research the market before entering it. I have to say that trading is more rewarding than just owning. Big thanks to David Frank who always keeps me updated. I am so glad I started his program
As a newbie, what do I need to do? How can I invest, on which platform? If you know, please share. I'm new to this, please how can I contact him?
He's mostly on Telegrams, using the user name
@DavidFsignal ⭐⭐⭐
Thanks for the information... I'll get contact him as soon as possible. I also want to get good knowledge and stop losing.👊
You are right, you can't just hold and expect to be very successful in Bitcoin………..Everything here is really really cool to me and i am reaching out to him right away…..
If they remove the stimulus (30%) where do you think existing house prices will go....
Stimulus? More like costs.
What I would like to know in the discussion on development charges is what development charges would be necessary to cover 100% of the costs of growth. Like instead of talking about always how they've grown in cost relative property taxes, let's go back to the fundamentals of why they exist and ask ourselves what does it cost on average to provide new schools, digging up the road to provide new greater infrastructure, etc. because growth should pay for growth so that would help decide if on average it makes more sense that they're in that 2 to 4,000 range versus 40,000 range. The city budget should be looked at itemized and averaged over time and the maintenance portion should be fully covered by property taxes while the growth portion should be fully covered buy new development charges. Rich pointed out that it was 10x, But the question is was the original amount anywhere close to enough? I feel like the reality is likely somewhere between those two values, which probably means development charges could go down by half but again I would like to determine them based on the actual financials and not feels.
And to Rich's point on taxing housing as an essential good, I think the argument there is that we don't tax rent I believe? That's the cost of purchasing housing services, quite a bit different than actually buying a home. But I do agree that GST on house construction seems a bit silly, development charges make sense so growth pays for growth GST seems a bit much because ultimately it does get passed on.
What to tax is a very interesting point as well that you touched on a bit. I can see the economic case for taxing consumption instead of investment, trying to follow what economists refer to as more efficient taxation that doesn't give you bad incentives like limiting investment is good if it ultimately leads to productivity increases, as productivity is the only free lunch and the ultimate goal to increase the pie. However it does make me think about how we craft the tax policy in a very globalized world, as putting taxes on foreign companies and people who profit from Access to your market does seem like something you would want and a reasonable trade-off for them getting to participate in your market. However doing so either ultimately gets passed down to your consumers anyway, or disincentivizes investment. But this is also a bit of trying to square the circle with the idea of progressive taxation and ensuring that the total tax burden everyone faces increases as a percentage for every additional marginal dollar they earn. To me that's a very important base value and I do feel like there should be some sort of activity irrelevant adjustment that ensures but nobody making X dollars pays a lower percentage of tax than anyone making x minus 1 dollar (or equal but you could in this case scale it to be a smooth formula where every marginal dollar does change the tax rate like a thousandth of a percent). The idea of applying these taxes " after" The market decisions on how to make them income source would be irrelevant, But is a bit of a conundrum when you're talking about dollars leaving country and therefore the tax base You need to tax them as they do so which would need CBDC levels of tracking of funds and would ultimately reduce foreign investment.
what about building costs for new house construction?
What kind of country has its citizens bet against their own country to make money. Lolol
So outrageously priced housing was completely on purpose. 😂
Correct,🇨🇦 taxes will rise in the 2025 budget, most likely this home equity sales tax on homes over $1 million.
I love that Rich brought up the fact that other countries tax spending rather than income and investments. I hate that trend from Canadian conservatives to always cut sales taxes, but never income taxes. If we want to boost our productivity, we need to stop punishing income. Why work hard to make $100k that will be taxed to death when you can just buy homes, sit on them and sell them to pay capital gains taxes on 50% of profits? That's the big problem that Canada is facing right now. Rebalancing taxation to reward hard work will naturally deflate the housing bubble as more people will be tempted to work hard.
A car I bought just 4 years ago costs over $6000 dollars more now, in 4 years.😮 A massive increase in 4 years. I'm afraid the Boomer in the room is the only one with a grip there these days.
Removed percentage because people are going to argue about it, but it was a cheap car to begin with.. and it's hard to do comparison becuase they Removed the manual transmission option in 2024
when can i follow the loonie hour on X?
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement.
As a newbie investor, it’s essential for you to have a mentor to keep you accountable.
Kristine Lynn Weber is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Kristine Lynn Weber, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of
information can be a big hurdle. I've been
making more than $200k passively by just
investing through an advisor, and I don't have
to do much work. Inflation or no inflation, my
finances remain secure. So I really don't blame
people who panic.
Without a doubt! Kristine Lynn Weber is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted based on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally.. What's your take on this approach? and How can i reach her, if you don't mind me asking?
The City should be charging developers on the land. If they purchase a piece of land and build twelve houses on it, the price should be the same as the same land with 400 condos.
Why are we charging developers for the air above the land? If you utilize the air above your land that should be a bonus for you.
It's an air tax
400 units demands more on infrastructure usage. More water consumption, more wastewater treatment, more roads, and after a certain percentage increase means another fire department and more police.
@dutchgirl7603 the owner of the condo unit pays the taxes for those things. If what you said was true, the homeowner wouldn't be paying taxes on their home for the next 40 years.
P.S. Liking your own comments is distasteful.
Keith is pretty much a bitcoin maxi via his perspectives on the central bankers yet doesn’t own any bitcoin.
KEITH LET THEM TALK ABOUT BITCOIN!!!!!!!
Boomer is on fire 🔥
I tune in for boomers opinions!!
I change my mind... Boomer is my favorite! Lol😂
Mine too!
US will cut 25 bps... That will lower the US dollar.
The federal rate is not for mortgages. Many bond rates in USA are actually going up.
Steve, I think it’s time to upgrade from the potato-quality webcam.
68¢!
The truth is the money is broken. Better start talking more about bitcoin boys. Love the boomer bit hes out of touch on this one in my opinion
Boomer not wanting to mention BTC is hilarious😂😂
start at 17:15 you're welcome
Danke!
🙌 I really appreciate your clear and simple breakdown on financial pitfalls ! I lost so much money on crypto market but now making around $5k $7k every week trading different cryptos and stocks
How!!☺️ I know it's possible,my sister always get 40k every week, I would appreciate if you show me how to go about it.
I have been struggling with stock and forex since 2022 making loose every time. I am struggling financially and am about to give up.
Please please can someone reach for me and help me with trading please. I will appreciate it. Thank you
Yeah! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Anna imagine investing $12,000 and received $22,000
Please I'm new to this how can she be contacted.
Get her on
Look up the definition of Pigouvian Taxes then explain how taxing new housing does not obviously reduce supply of new housing. Next grab your tinfoil hat and start to think about what first principles a government would need to have to proudly advocate increasing income tax for any group...even "The Rich".
If housing wasn’t essential, there would be no homelessness
Halloween is the best holiday. Wake up.
Wrong, Dia de los muertos is!
Is it an economic show or a political one? At around 9:25 mark, did someone say that Trudeau increased the development charges? Those are municipal charges, not federal. The cities / municipalities charge the development fees, and they are the ones keeping the property taxes low and cover the infrastructure cost by charging the development fees. The federal government is now offering infrastructure funds to municipalities to ease bylaws and reduce charges, which the conservatives plan to abolish.
Of course, because if the money is coming from the federal government, it's a tax on EVERYONE. The builders and buyers should be paying it
@zahadoom4488 builders pass it on, only the buyers pay it. Then let's stop complaining about the housing affordability and the development charges and celebrate that the existing home buyers have lower property taxes. The additional population of the city/ municipality, will also expand the munciple tax base and help with the miniciple revenue.
@MyUA-cam-yb7xc the builders should pass it on to the buyers, they are the ones creating the need for additional infrastructure.
Most people don't want any more people in their town or cities.
Blows me away why people think these costs should be downloaded on citizens who've already lived there or had to pay the burden of these costs when they moved in years ago...
The problem is government spending is out of control and property taxes are being leveraged amd artificially raised to support massive inflated budgets.
It's criminal and a form of gentrification.
@zahadoom4488 The city life works differently. By this logic, when the city needs to replace a 750k to a million dollar fire truck, or old police cars or aging sewage infrastructure, that should only be billed to the people who have been previously living there, created demand for that infrastructure, and used it for 30 years. The new citizens should only be paying for the things serving their new subdivision and not for repair or replacement of old roads in the city that don't go to their own home. But, the civic life works differently. And somehow people like to live in larger cities like Toronto, NY, LA, etc. Why? Because they have better hospitals ( plural), universities ( plural), office towers, job opportunities, facilities, and so on. If everyone adopts the NIMBY rationale and puts everything new people, the towns and cities won't grow. The best hospitals and infrastructure benefit everyone, and everyone should share. It used to be the property taxes that paid for such things, and it changed sometimes in the last 3 to 4 decades, gradually getting worse. But your argument makes it clear that it's not the federal government's responsibility, which I kind of agree with. Also, by the same logic, the rising home prices are a great thing, as most homeowners benefit from it and get rich er er... who cares about the next generations, if I am chilling, and can't see beyond my own backyard 😎
Halloween is a catholic/christian holiday,l not a non-denominational childrens holiday Richard.
Ya Rickey
HUH?? I think you need to do some research. Halloween is definitely NOT Christian.
33:17 good point by Richie Rich.
Keith is pretty much a bitcoin maxi via his perspectives on the central bankers yet doesn’t own any bitcoin.