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Mortgage Broker News | 27 Mar 2015, 07:15 AM Agree 0
The housing market is going to suffer as Alberta bids to reduce its rising budget deficit.
  • Brian Lambert | 27 Mar 2015, 11:35 AM Agree 0
    There is no tears shed for Alberta. They are just as bad as Quebec when it comes to paying their fair share of taxes, cost and entitlements. It is like watching Quebec students protesting against cut backs when they have the lowest tuition fees in Canada?
  • Shaun Serafini (@mortgagepro10) | 27 Mar 2015, 02:09 PM Agree 0
    Crazy! I'd like to know the rationale here. Has it all of a sudden become that much more time consuming and labor intensive to register title? Does registering a $500K mortgage take any longer than registering a $150K mortgage? Room to grow is one thing but how in the world is this regime justifying a 400% increase?

    This hike isn't just going to affect buyers/sellers but deals another blow to the already beaten down refinance market as well. We might as well call this exactly what it is H.O.T. Tax - Home Ownership Tax.

    I find it very hard to believe that realtors and lawyers polled took news of this type of change in stride as Khan alludes to. And at what point do mortgage professionals become a sought after group of stakeholders in decisions such as this.

    It's no wonder our Govt chose not to institute a provincial sales or consumption tax - there's not going to be much $ left for residents to actually use for consumption at this rate! Time to take a long hard look at the crew that is currently calling the shots in AB!
  • Ryan Hager | 27 Mar 2015, 08:32 PM Agree 0
    It looks like an attempt to raise the bar to home ownership in an era of cheap mortgage money. Probably worries of first time-homebuyers over-extending themselves and bubbles. Nothing like adding another $1000+ to the initial cost of ownership to cool off the real estate market a little more.
  • Mike Muranetz | 31 Mar 2015, 08:07 PM Agree 0
    This is definitely getting some buyers off the fence. $1,000 can be better used to pay down your mortgage, complete renos or pay for that moving day pizza & beer party!

    Mike Muranetz
    RE/MAX Real Estate
  • Magua27 | 07 Apr 2015, 04:05 PM Agree 0
    In comparison to most other provinces this is still a low fee. Alberta has been subsidizing the rates for that oil has dropped, it is a rational means of getting some money. If $1,000 is the difference for someone buying or not buying a property, then they probably ought not to in any event.
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