Fresh from their triumphs on energy, health and other files, the Ontario Liberals plan to extinguish an “overheated” Toronto housing market. When politicians start deciding how much your house should be worth, it’s time to hit the roof. Reputable opinion is all bwa bwa bwa about how the tax system should encourage saving not consumption to foster growth. But it’s also all bwa bwa bwa about needing to keep the overnight rate down at 0.5 per cent, 0.75 or one per cent to encourage consumption, not saving, to foster growth. So now we have the “Ontario Fair Housing Plan,” which includes a 15 per cent tax on non-residents.

Source: National Post April 20, 2017 17:48 UTC