Killam Apartment REIT T.KMP.UN

UNwelcome to Nova Scotia

[Maxmoe]

Where killam is based FYI. But I don't know how much longer until HO moves to Calgary to save everyone 6% in income tax and  I got a reply from the premier's office to an email I sent in April about the proposed "non-resident" property tax penalty. I pointed out the obvious counterproductive drop in "non resident" investment in real estate that would result. That if they want to subsidize new "local" household formation taxes they can do so transparently, in many ways, without penalizing the entire real estate market. That the policy would result in even higher rental and buyer pricing due to shortages in construction spending. But, in typical backwater "provincial" NIMBY thinking, they decided to scrap the extra tax on the annual tax bill for "non-residents" but they'll stick with an extra tax at any deed transfer tax time. Still short sighted and stupid. But somehow less so? And they wonder why they can't recruit recent grads, never mind wily old veterans, to work or move there. Rents will keep marching higher ( go KMP ) , investment and economic growth will go back to the stagnation of the last 50 years. Why not encourage construction to keep real estate affordable rather than beat down values with higher taxes??? Oh, well, it's good for KMP rents. $3000 a month for a nice 2 bedroom on spring garden road in Halifax. WOW! Or, $1200 a month for a sketchy one bedroom in a sketchy part of town in dartmouth! Kmp has 63 properties (buildings not apartments) in metro halifax. Those are the ONLY 2 apartments available.  Pick up the pace of tenant rollovers into the new reality of Toronto size rents on properties Kmp paid a fraction of the purchase or development price.