RE/MAX Condos Plus

@KurtSupeCPA That happened to me in my forties. Own your next Job is a book I wrote about buying a business not searching for a job.

Client was a VP at a large company. 62 years old. Was going to work until 65. January: called into HR. Severance package. Sign by Friday. He called me that afternoon. "I think I just got retired." No transition. No goodbye lunch. No plan. His whole identity was that job. His social life was those people. His purpose showed up every morning at 7:45am. The money was fine. We figured out the money in two meetings. The identity took a few years. He told me recently: "The hardest part wasn't losing the job. It was realizing I'd built my whole life inside someone else's building." Retirement that happens to you hits completely differently than retirement you choose. Millions of people in their 60s are navigating this right now and nobody is talking about it.

@JimChuong Own your next Job a book about buying a business rather than searching for work when - not if - you get fired

When a corporation cuts 50% of their workforce, shareholders benefit. Jack Dorsey's Block rose 20% instantly after announcing plans to cut over 40%+ of employees. Job security doesn't exist. Never did, still doesn't, never will. Your job title is irrelevant. The only job title that matters is "Owner" or "Shareholder".

@JimChuong It will take 6 yrs

“Hi. I make $100k a year, have a $400k first mortgage, $100k second, house value was $1M now it’s $700k, no pension, $150k saved in my RRSP, and $30k in my TFSA. Can I retire in 5 years?” No.

@SteveSaretsky If you flip a property you are deemed to be in the business and the Feds tax profits as income. Is the BC tax after paying Fed taxes? If a principal residence, can you now deduct all expenses (utilities, property taxes, etc) against any profits? Bad idea

Home flipping tax?? My thoughts youtu.be/SdHfGBWm3U4?si…

We thought we would be the first out with our 2024 RE Market Forecast. Our last Forecast ever! So you don't have to throw bricks!! remaxcondosplus.com/Blog/2023/12/1…

@RE_MarketWatch Or just increase the sales tax and have no income tax. The more you buy, the more you pay.

@jesse_kleine the question is whether Macklem has ever been right??

If Macklem is right that the neutral rate is now higher than 2-3%, we’d see variable mortgage rates in the 5%’s for years. Oof.

@doughoyes We are in a recession. Only the Feds doesn't know it. Full employment for Government employees. Everyone else???

Last year I predicted we would be in a recession this year. The experts have not declared a recession (they always declare it months after it starts), so it would appear that my prediction was wrong. Or early. Let's review the charts, shall we? /1

Last monthly Market Report. See our take on Renting vs. Buying. remaxcondosplus.com/Blog/2023/11/1…

I have been away from twitter or X for the past couple of months as I contemplate both the medium and my real estate future. I have decided that I have reached my ‘best before’ date. Please watch my video which shares a couple of historic real events.

Watch “JAMIE JOHNSTON” on #Vimeo vimeo.com/882254704?ref=… The Fifth Quarter or time to move on as I announce my retirement from organized real estate at the end of the year. Be sure to watch the story at the end of the video.

@ScrinkoCa So true. Never been to a site that isn't at least 50% sold. The only true pre-con stats are registrations.

Worth noting these numbers are self-reported in most cases Pre-con is the wild west Possible the sales volume (as bad as it is) is actually inflated a bit

@Neil_Uttamsingh Yes CREA lobbied for this and it looked like Harper was on side.

@Remaxcondosplus Jamie, what is the govt motivation for NOT introducing capital gains roll over? If I recall, Harper govt said they were going to introduce it but never did…

Another reason why we have low sales: if an investor has positive cash flow he will just sit. If they sell they pay capital gains tax before they buy another property. We need 'roll over' provisions like they have in the U.S. And we keep hearing how cheap U.S. housing is.

You send this to @oliviachow

@Crash_IRA @Chef_R3d I have never asked the Government for a bail out. My beef is that the BoC told everybody low rates were here for a couple of years, They should never have lowered them as much. They should have started raising much earlier and at a lower rate of increase.

Another reason why RE market is slow: people can't move even if they want to. A friend wanted to upgrade & went to his banker to get pre-approved. He was told you can't move. You could not get approved for your current mortgage on your house either. Now that is 'stress'.

@RealSalluKhan Spoken like a true renter. Do you really think that increasing taxes will make people want to pay more?

@Remaxcondosplus Home ownership, therefore, would be reserved exclusively for high income earners. This is so unfair to low income earners as housing is like a basic human right. We need to increase income taxes in higher incomes and scrap the exemption of capital gains tax on principal residence

Tenants are quick to point out that you cannot discriminate based on income. Is that a human rights violation? What do you call an owner being turned down over income for a mortgage? Human rights or sound business practice by a lender?

@Neil_Uttamsingh the only rationale is they get their taxes sooner. The argument for the roll over is that it encourages new and bigger investments.

@NipseyHoussle And housing costs are driven by Government ineptitude. New construction has 25% built in costs. Zoning limits. Massive immigration. Finally 6% borrowing costs and we get high rents and high housing costs. That is where the buck stops.

This feeling is ENTIRELY driven by housing costs. Everything is. Nurses are expensive because their housing costs are expensive Child care is expensive because employees are expensive and employees are expensive because their housings costs are expensive Etc etc Nobody in government is even vaguely trying to solve the housing question MAVA 🇺🇸 is the answer