October 24, 2020, by Radheyan Simonpillai
The Ontario Real Estate Association (OREA) wants the provincial government to give home buyers a six-month holiday from the Ontario and Toronto Land Transfer Tax (LTT), along with other incentives it argues will stimulate Ontarioâ€™s economy during the COVID-19 crisis.
â€œIn the last economic downturn we had it was real estate that helped keep Ontarioâ€™s head above water,â€ OREA CEO Tim Hudak tells NOW. He describes how incentivizing home sales will help Ontario weather the economic impact of COVID-19.
The OREA, the Toronto Regional Real Estate Board (TREBB) and others will be meeting with Ontario MPPs to discuss the measures. They hope the Ontario government can incorporate the recommendations in the November economic update or the spring budget report.
What does this mean?
This article is fascinating, even enlightening, but you may have no idea what to do with the information it provides.
Itâ€™s dangerous to load up on knowledge and move without the practical wisdom to act.
Every week, our coaches post real estate insights and stories from the streets. They unpack real deals, breaking down the numbers, and highlight trends that their clients are making money off of.
Their wisdom is freely available to you right here.
Sign up for the iWIN Real Estate Newsletter now so you never miss the practical wisdom we are already sending to thousands of investors in Ontario.