Someone bought a century home in Saint John and is allowing it to rot. The buyer apparently lives in Toronto and doesn’t care that the building is falling apart.
This is shitty. Someone has the money for “an investment”, which means other people don’t get somewhere to live.
Simply untrue, if a landlord has to pay more tax on a non-primary residence, they’re going to have to rent it out for far more than a mortgage payment would cost a first time home buyer, meaning that the first time home buyer will have an easier time justifying outbidding them at sale time.
Also impossible for a landlord to pass that on in any property that is rent controlled with long term tenants, likely forcing them to sell their second and third homes, putting more on the market and driving prices down.