Could the Looming HST Cause Residential Building Blitz?
With both the implementation of the Harmonized Sales Tax (HST) and the spring building season drawing near, the real estate market and construction industry just might get the boost they need. While polls show consumers are decidedly against the added tax, with only several months before it takes effect, those looking to purchase or build a new home could have enough incentive to streamline their plans. With the new tax primarily affecting those who are building houses over $500,000 in Ontario and $525,000 in BC, it is likely that this possible building blitz will be for higher end homes. Or this could simply be the perfect opportunity for those who want to avoid the new tax and stick it to the liberal government at the same time. One must wonder, though, if this is some work of economic genius by likes of premiers Gordan and Dalton. After all They did promise that the HST would increase investment and spending and well, this looks like that very thing. Perhaps that’s giving too much c
