How Will a Liberal Government Affect the Toronto Real Estate Market?

28 October 2015
Remax-Condos-Plus

It has been a week since the election and everyone is asking “What will be the impact on the Toronto Real Estate market with a Liberal government majority?”

In the first year with a Liberal government not much will happen. We will start to run government deficits, money will be handed out to everyone and only those making over $200,000 per year will have to pay more. While infrastructure spending, particularly on public transportation for big cities will help, you only need to look at our current subway extension to York University, hundreds of millions of dollars over budget and years late. That’s what you get from big government spending, waste and inefficiencies. After five or ten years we might have a slightly better public transit system. However, we will also have a massive deficit to pay for through higher taxes for all and a $0.65 dollar. Don’t forget higher interest rates too! Residence buyers may be worse off, however non-resident buyers will be better off. Is that what we really want?