How the Government Turned Every Canadian Home Buyer Into an ATM | The Angry Realtor Show

 Every time someone buys a home in Canada every level of government shows up at the closing table with their hand out and then those same people stand at podiums and talk about housing affordability. In this episode of The Angry Realtor Show, I break down exactly how the government has turned Canadian home buyers into ATMs through land transfer tax, development charges, CMHC mortgage insurance, HST on new homes, permit delays, and 30 year amortizations that normalize a lifetime of debt. A first-time buyer purchasing a $1 million home in Toronto needs roughly $105,000 cash to close before moving costs, legal fees, furniture, or repairs. That same buyer walks away with a $962,000 mortgage, and the system calls it affordability. If you are a first-time buyer, a new immigrant, or a growing family trying to get into the Canadian housing market, this episode will make you angry, and it should, because anger is the first step toward asking the right questions.