Page 8 of 8 FirstFirst ... 678
Results 71 to 75 of 75

Thread: What credit-card payoff? Consumers are dumping debt

  1. #71
    Sage
    Lord Tammerlain's Avatar
    Join Date
    Jan 2010
    Last Seen
    Today @ 01:29 AM
    Lean
    Undisclosed
    Posts
    10,431

    Re: What credit-card payoff? Consumers are dumping debt

    Quote Originally Posted by Dittohead not! View Post
    Really? I heard you have to pay a sales tax on real estate, also. is that correct?
    I dont know about provincial sales taxes but on new homes yes we pay the GST on it

    For a new home that is going to be lived in by the owner, it is rebated (cut in half of the 5%. For an investment property you pay the full 5%

    Alberta does not have a sales tax so I dont know if provincial sales taxes cover home sales

    Used homes are excempt from the GST
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

  2. #72
    Sage
    UtahBill's Avatar
    Join Date
    Sep 2005
    Location
    Utah
    Last Seen
    12-03-17 @ 01:39 AM
    Gender
    Lean
    Moderate
    Posts
    17,687

    Re: What credit-card payoff? Consumers are dumping debt

    Quote Originally Posted by Lord Tammerlain View Post
    I dont know about provincial sales taxes but on new homes yes we pay the GST on it

    For a new home that is going to be lived in by the owner, it is rebated (cut in half of the 5%. For an investment property you pay the full 5%

    Alberta does not have a sales tax so I dont know if provincial sales taxes cover home sales

    Used homes are excempt from the GST
    New homes in the USA may not have a sales tax, but there are impact fees up the a$$ collected by the city for any new home being constructed....
    Oracle of Utah
    Truth rings hollow in empty heads.

  3. #73
    Sage
    Dittohead not!'s Avatar
    Join Date
    Dec 2009
    Location
    The Golden State
    Last Seen
    Today @ 01:20 PM
    Gender
    Lean
    Libertarian
    Posts
    41,513

    Re: What credit-card payoff? Consumers are dumping debt

    Quote Originally Posted by UtahBill View Post
    New homes in the USA may not have a sales tax, but there are impact fees up the a$$ collected by the city for any new home being constructed....
    yes, that's so. Maybe out home taxes aren't so different after all. Still, how many people could afford a new home mortgage if they couldn't deduct the interest? It seems to me that eliminating the interest deduction would bring down the price of houses.

    Maybe real estate is cheaper in Canada, but watching the HGTV channel that my wife loves for some reason, it looks about the same to me.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

  4. #74
    Sage
    Lord Tammerlain's Avatar
    Join Date
    Jan 2010
    Last Seen
    Today @ 01:29 AM
    Lean
    Undisclosed
    Posts
    10,431

    Re: What credit-card payoff? Consumers are dumping debt

    Quote Originally Posted by Dittohead not! View Post
    yes, that's so. Maybe out home taxes aren't so different after all. Still, how many people could afford a new home mortgage if they couldn't deduct the interest? It seems to me that eliminating the interest deduction would bring down the price of houses.

    Maybe real estate is cheaper in Canada, but watching the HGTV channel that my wife loves for some reason, it looks about the same to me.
    I think outside of California, NYC and Honalulu and some other desirable locations I believe it is more expensive in most Canadian cities

    The cheapest new condos for sale in Calgary are selling for $174 000 or so. They are on the intersection of 2 major roads, wood frame construction and in the least expensive area of the city

    A 700 square foot condo closer to downtown in a concrete building sells for at least $280 000. New homes, with a two car garage with a 30 min drive with no traffic to downtown sell for around $300 000.
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

  5. #75
    Sage
    Dittohead not!'s Avatar
    Join Date
    Dec 2009
    Location
    The Golden State
    Last Seen
    Today @ 01:20 PM
    Gender
    Lean
    Libertarian
    Posts
    41,513

    Re: What credit-card payoff? Consumers are dumping debt

    Quote Originally Posted by Lord Tammerlain View Post
    I think outside of California, NYC and Honalulu and some other desirable locations I believe it is more expensive in most Canadian cities

    The cheapest new condos for sale in Calgary are selling for $174 000 or so. They are on the intersection of 2 major roads, wood frame construction and in the least expensive area of the city

    A 700 square foot condo closer to downtown in a concrete building sells for at least $280 000. New homes, with a two car garage with a 30 min drive with no traffic to downtown sell for around $300 000.
    Sounds like it is on a par with most of our metropolitan areas, the San Fransisco area excepted. Maybe we could survive not having an interest deduction after all. We will need to raise more taxes somehow, if we're ever going to balance the federal budget.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

Page 8 of 8 FirstFirst ... 678

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •