Comments on: Unlocking homeownership: Why interest rate cuts are not the only key to getting first-time buyers in the door https://realestatemagazine.ca/unlocking-homeownership-why-interest-rate-cuts-are-not-the-only-key-to-getting-first-time-buyers-in-the-door/ Canada’s premier magazine for real estate professionals. Wed, 25 Sep 2024 19:27:08 +0000 hourly 1 https://wordpress.org/?v=6.6.2 By: Robert C Ede, Broker, Toronto https://realestatemagazine.ca/unlocking-homeownership-why-interest-rate-cuts-are-not-the-only-key-to-getting-first-time-buyers-in-the-door/#comment-20181 Wed, 25 Sep 2024 19:27:08 +0000 https://realestatemagazine.ca/?p=34445#comment-20181 So … you mean the average price (and therefore every-single-price) MUST come down
by a further 10%-20%-40%??? (either by devaluation of the asset or the currency) or … we could start helping people buy less-than-100%-interest in a home from (for example) a Last-Time Seller.

A variation on a Joint-Venture partnership, we would need to develop a standard format of terms (like the Ontario Standard Lease – covers the big stuff and allows some flexibility for individual properties and buyer/sellers) for these J-V’s so that each contract need not be more complex than the drafted by /amended by/ recommended by a Registrant APS process we use now.

Tax considerations for the Last Time seller would need clarifying i.e. IS this a commercial transaction?, a capital-gains attracting transaction or a principal residence disposition achieved in 2 or 3 steps?

Think of a First Time Buyer family who can comfortably afford $750K and a Last-Time Seller couple/single with a $!.2 million home that’s Free and Clear … do they Need more cash on ‘closing’ than Half? what are they going to DO with the proceeds?

The Real Estate Business IS the Finance Business – if you cannot finance it, you cannot sell it!

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