sbsat wrote:Duffman100 wrote:sbsat wrote:The canadian economy in general is dog sh*t and youre seeing discretionary spending decline
It's not just the Canadian economy. Everything is expensive everywhere.
Billionaires are hoarding wealth as the middle class is destroyed.
Canada doesnt have many billionaires and canada already aggressively taxes the rich. Not sure what else we can do here about that divide.
In america the economy is bad but for whatever reason spending has been robust.
Whether it be individual billionaires or investor groups, the rich are buying up everything. All of the dentists in my small town are corporate owned. If the dental hygienist asks you if you want the dentist to have a look, expect a $100 charge for a 3 minute look see.
I am currently involved in landlord and Tenant Board dispute on behalf of my 95 year old father. An investor group bought the mobile home park he was living in and wants to eliminate all residency leases and convert them to 11.5 month terms so there are no controls on the lot lease fees. This effectively destroys equity in one's mobile home.
I have a friend who lives in Parry Sound. He tells me 2 corporate groups are buying up all the marinas on the east shore of Georgian Bay. Boat slip fees will be rising.
During the insane real estate price spike of a few years ago, my son, a RE broker, said 25 percent of bidders on homes were investment buyers. While the commission on listings were nice, the ability to help a family buy a home was restricted. He helped some of his clients make up to 20 offers on houses before they won a bidding war, and then they were saddled with a purchase that was not a good investment because of that investor competition.
My local Honda franchise was bought up by an investor group that owns a number of dealerships. Prices are no longer indicated on the windshields of the used cars. I guess you pay according to what vehicle you drive in with and how nice your shoes are.
What we need to do is tax investor groups out of specific markets so that families can buy homes and mom and pop entities can buy businesses.