[KensingtonLurker]

Edit: I am business partners with them and we are seriously talking about a move to the USA

Nice.


Not nice.

Fun little ride you took me on @KensingtonLurker

Not my favorite either....I love Canada, but can I give up 40+ per year?

Real Estate is cheap (comparitively) AND, I can deduct any interest on mortgage when doing taxes.

 

[CalgaryTiger]

Everyone has their choices to make, I lean more towards stability but don't fault anyone for doing what's best for them.

 

[UrbanWarrior]

I just realized, with the latest provincial population estimates released... we can extrapolate the Calgary CMA population to be around 1.75 million, if the trend of us taking half of provincial growth is still holding (which of course it is). By July 2025 (next CMA estimates), we may be above 1.8 million.

 

[Patrick.1980]

Not my favorite either....I love Canada, but can I give up 40+ per year?

Real Estate is cheap (comparitively) AND, I can deduct any interest on mortgage when doing taxes.

I get it, my sister and her husband moved to the US and are very happy with their move even though love Canada and they are anti-trumpers.
I’m staying put here in Canada, but stateside has some benefits.

 

[trtcttc]

Edit: I am business partners with them and we are seriously talking about a move to the USA

Not my favorite either....I love Canada, but can I give up 40+ per year?

Real Estate is cheap (comparitively) AND, I can deduct any interest on mortgage when doing taxes.

This is getting into the weeds but the mortgage interest deduction in the US is a bit of a misnomer. In Canada, we get the basic personal amount and any additional deductions (RRSP, childcare expenses, medical, unions, etc.) In the US, you have to pick one or the other. You can use the standard deduction of $27k for a married couple (lower for an individual) OR itemize and deduct. So your deductions would need to exceed the standard amount for itemizing to make sense, and you can only claim the mortgage interest deduction if you are itemizing. That's why it's a very regressive policy. Rich people with giant homes (and mortgages) get to save a lot on mortgage interest taxes, while people with modest homes just use the standard deduction and don't save anything.