In this episode, Alex McFadyen delves into a recent Financial Post article about a proposed home equity tax that could drastically alter the Canadian housing market. The proposal, supported by a leftist group and potentially backed by the current Liberal-NDP coalition government, aims to tax principal residences, particularly those valued over a million dollars. This episode breaks down the article, shares insights from Derek Holt of Scotiabank, and examines potential consequences, including impacts on home values, mortgage lending, and the broader housing supply. Listen in to understand what this proposal could mean for homeowners, investors, and the overall economy.
Alex McFadyen is a seasoned independent mortgage broker with over 11 years of experience in the industry. Alex is the owner and Mortgage Advisor of Flow Mortgage Co.
Alex’s Social Media: @themortgagepug
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