Right so we just implement socialist policies in housing.
I mean, water, power, education, healthcare are all heavily regulated or controlled by the government. Why not housing? It is a basic human need after all more of a basic need than education (not saying education should change).
It’s sweet that you think we can just implement social policies like that.
Only the rich and corporations would benefit from the housing market crashing.
I mean, just tax corporate home ownership, double property tax for homes that sit empty for more than 3 or 6 months, and put a 50% tax on any rental net profits above 15% of the total rental price.
Use that money for high density/low income development grants, seems simple to me.
Bit of a stretch to say only. I know several middle class people who are renting and would be in a much better position if rent dropped and housing dropped.
Admittedly those middle class who already own a home would be affected.
Only the rich and corporations would benefit from the housing market crashing
What? Not the people who can’t afford a house? They wouldn’t benefit?
Where do you get this malarkey? I can’t wait to hear what mental gymnastics you go through to make this seem true.
People that can’t afford a property now won’t be able to either when we go in a recession. Housing prices will drop, sure, but so will people’s incomes/savings. Individuals and entities that have deep pockets can withstand this dip and swoop in to buy up all the cheap properties and hoard them until the prices inevitably go up again.
I’m not the only person that thinks this way.
Or do you think the housing market exists in a vacuum and the bubble will pop without any other economic consequences?
despite my socialist views I’m also a realist: no elected government in Canada or US would socialize real estate. None. Within current economic and political system it’s a surefire recipefor country implosion. The only feasible solution is taxing “luxury” properties and diverting that money towards subsidized/public housing. Demand outpaces supply and supply is being choked by corporations and individuals scooping up properties and not releasing them back either as rentals or for resale. Make it passable for them to sell and impossible to hold and we can bring market to some shaky equilibrium. Build more affordable housing and you may stabilize the market. There are no other options on the table as far as I know.
That’s my take as well here in Australia.
No person should own more than one house, and no corporations can own a house ever.
If you must move, that’s ok, there is a central no reserve auction system that you must place your property into.
You can also buy your new property from said no reserve auction system.
Making housing a wealth vehicle is immoral
I agree, but the path forward to get everyone else on board with socialized housing is pretty bleak. We can walk and chew gum at the same time, but we’re having issues hanging onto our socialized healthcare.
I think we also need to re-think how we work and good work opportunities for people. We’re supposedly in a housing crisis but there is more than enough land in Canada. We need to disperse more people away from huge cities (and the green belt) in my opinion. There needs to be good opportunity elsewhere. I have no clue how we can do that outside of UBI or something.
The extreme concentration of wealth is just accelerating and hurting everyone except the fantastically wealthy.
build HSR between vancouver and toronto, and between detroit and quebec city. every few hundred miles seed a new city with government agencies and remote offices of companies. use good urban design principals so it’s not just another car hell, not just because it’s better but also as a selling point to get people to move there since it’s qualitatively better
