God I hope so
When it pops most people still won’t have money (because recession) and corporations will scoop in and buy up all the assets oh boy!
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.
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.
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.
We really need to start limiting the number of properties/parcels/acres that any one entity can own. It’s really the only way to stop corporations from taking over.
Then they just set up multiple holding companies.
Need to lower the profit margin by increasing supply beyond demand, then even if every home is owned by a corp they still need to compete against each other to keep them all occupied and impose a tax for empty dwellings.
Because when it “pops” prices drop? Would this be tied to other markets (like say groceries)?
If it is a bubble that’s going to pop, it’ll most likely happen alongside a recession. The price of groceries may drop, but alongside a lot of jobs lost or fear of losing your job.
It’s not just them, it’s everyone, just say different times. The moment the world allowed, & even heralded, wealth extraction over wealth creation everyone lost. Well, not everyone, a small number of people won impressively, like generational wealth levels, but we speak of them fondly. We assign labels like entrepreneur & genius to those folk.
Canada… You better pop that motherfucker
It doesn’t work that way.
Housing is a rich-person’s game now. Any time there is a decent deal, you’d better believe some company is going to snatch it up before you do.
I’m guessing this isn’t going to be as good as rent and house prices plummeting is it?
Didn’t we all know this anytime we saw House Hunters and they wanted $700k for some of these shitboxes?
