Taxation and the middle class

[tomh009]

The new higher capital gains rate only kicks in after $250K in gains (and appreciation of primary residences is not taxed, of course) so a $10K savings would require the unit to have appreciated by something like $370K; that amount would result in $20K additional taxable income and something like $10K in taxes. I don't think there are many investment condos that have appreciated that much. Maybe duplex/triplex houses, but I don't think it would significantly impact the number of listings at the moment.

Are you sure? We bought our condo in 2018 and sold it in 2022 and our condo went up >200k in value, and ours was extremely cheap at the time, the same percentage increase for a more expensive unit would easily hit 370k, and I think property has still been going up since.

The first of the big new buildings, Charlie West, didn't hit occupancy until 2021. The second (taller) Garment tower was about the same. So, people buying these units would have likely missed the rise in real estate prices, as the prices have largely stalled post-pandemic. (The pre-construction prices projected those increases already so no bargains there.) You can confirm this by comparing current asking prices with the pre-construction ones.