mjj (flemmings) wrote,
mjj
flemmings

Allons enfants de la patrieeeee-eh

Yay!!!! "Prices of existing homes in Canada's largest city took a stunning drop in the first half of October, down by 15 per cent compared with the same time last year."

(Why yay, you ask? Because most people buy houses to live in, not to sell. When demand for houses inflates the value of small downtown fixer-uppers to double or a third again their real value, it's reflected in the taxes. Property taxes used to be assessed every year based on the house's market value. In a hot market, driven by (where have we heard these words before?) low rates and easy credit, that puts a real strain on low- and fixed-income people, precisely the sort who live in small downtown fixer-uppers.)

Current market value assessment was put in place by the thrice-damned Tory government, who had promised in the elections that they'd do no such thing. 'It's *real* value assessment, not market value assessment,' said Snake Harris, and Toronto has suffered ever since.

Of course, the every-year market-value review law gets changed just as the market crumbles. I'll have to wait a while to see a reflection on my tax bill, by which time the market will probably have recovered. But in the meantime- take *that*, jackals of the real estate industry. A la lanterne!

Oh- and in other news, the pre-school staff's daughter is not a Pratchett fan. She's a Discworld fan, and thus has not bought Nation in hardcover and both editions.

ETA: And the good news just keeps on coming.
Tags: pratchett, rl
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