Assessing top weights on Canada's housing market

Ron Butler, mortgage broker at Butler Mortgage, Bob Dugan, chief economist at Canada Mortgage and Housing Corporation, Lauren Haw, broker of record and industry relations officer at Zoocasa, join BNN Bloomberg to discuss real estate.
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[@ElectronicWasteland-p2x]

in BC it's going to take 4 months to evict someone even if they leave voluntarily. Buying a tenanted property is usually a bad option, and it's generally not a big enough discount to justify the headache. Maybe if prices come down, but sellers of tenanted property still expect top dollar right now.

[@stephaneperron9852]

1:30 Sell your primary, move into your rental (you can evict based on that notion), take the next year to prep the property for sale as you need 1 year for proper eviction. Try to do this in 2 fiscal years.

[@TheDonjuan15]

The tax implication of transferring to a rental property is you can write off the interest - from a CPA.

[@ddedominicis1987]

@TheDonjuan15 Doesn’t the amount transferred from your principal residence to the rental become non tax deductible?

[@chillax8250]

Why do home inspectors not complain against property that has a second dwelling unit without a proper license when they try to sell at sky rocket price levels in Canada. Here the initial owner is trying to pass on his burden to another person who desperately needs a house, and thus trapping the innocent people. This is cheating by the brokers and sellers. Who is going to ever put a full stop to this.