You really think a multi-billion dollar deficit would be fixed by a new government in less than a year's time? LOL

Uh... unless you're fine with paying 2-3x more for insurance right away.... Capital reserves still have to be reset to legislated minimums and it'll take more than one FY's budget sheet to fix that. It's not a black and white issue, much like most of the hot button topics that people seem to hinge their opinions and vote on.

:facepalm:

The ndp just legislated away the minimum capital reserve requirement

My point was that everyone liked to say the liberals pulling $1billion out of icbc over a 5 year period is the most significant reason icbc was short $1.3billion last year alone. Yet there is really no change this year.

My point is that, exactly as you said, it isn't a black and white issue. If it was, they should have fixed it already, right?

I was renewing my insurance the other day and I asked the agent about all this and he said the main reason was the increased cost of repairs coupled with increase in accidents, likely due to distracted drivers.
He also said they'll be phasing out agents and moving towards online service.

Just read a column about the newly proposed speculation tax. Horgan has previously said that as long as you pay (income) taxes in BC, you would not be affected. However, it seems like things aren't really working out that way in BC:

Vaughn Palmer: Readers stunned by impact of B.C.?s new ?speculation tax? | Vancouver Sun

Coles version:
- If you have a vacation home in any of the speculation tax areas, you will likely still end up paying some (or a lot?) in speculation tax.

- If you have low income (say, due to being retired) and pay no income tax, you'd be hit with the full speculation tax.

- Your property tax burden could increase as a ripple effect of the speculation tax.

Hmm... Would be interesting to see how this pans out...

If that goes through you will have a lot of seniors having trouble paying their bills. And also seniors aren't speculating. They are living here retired since they pay their dues (tax) while working their whole life in Canada.

If this speculation tax isn't changing the way it is now, there are going to lot's of angry people and maybe even some lawsuits.

Or they could suck it up just sell their 2nd home just like what im doing :fullofwin:

Market is already slowing down. Get out of real estate now before it gets A LOT worse.

The time for speculating is over!

Does this new speculation tax apply to all property or any property after the frist one? Coz a lot of seniors (such as my parents) who are retired have a primary home but is living in it. Since they are retire they have no income will they still have to pay the speculation tax? Seems really unfair if that's the case.

As I understand it, primary residence is exempt. It only applies to non-primary residence in any of the specified zone (Capital, Nanaimo, Metro Vancouver and Fraser Valley regional districts, plus the municipalities of Kelowna and West Kelowna).

That's what I kinda of though but then there isn't too much details about it. Guess we will have to wait it out!