RE:RE:RE:RE:RE:RE:RE:RE:Bank of CanadaMontreal residents are receiving their property assessments as of today and some of them have seen their property double in value since last assessment . The city says they will not raise taxes because they will lower the taxation rate but we all know what comes next ... costs for owning property will keep going higher and it's nothing new , my dad paid 23% in interest rate and survived , we will survive too ... unless .. you are over-leveraged just like the rest of the gamblers out there ... I call it transfer of wealth from the greedy to the smart ... the skies are blue ... ;) ... GLTA
Shamhorish wrote: IMO, there is no such thing as free money
many reasons contributed to lowering interest rate, most of it was declared to mr and mdam every one
one of the the hiddin ones was to raise real estate value extimated by the cities, by encouraging people to buy properties, and reals estate was on fire, prices doubeled or trippelled in some case and that is what they wanted so they can do new city evaluation and raise city estimates, thus collecting much much more of property taxes, scholl taxes etc
so, what they gave mr X in one year or so, is nothing compared to what they will get back just from life long property tax increase
think about it