So Basically, there’s always going to be a crisis. Cool thanks.
There are so many great ideas that could have been implemented by now, and have been implemented in other countries. But the Liberals have only instituted policies to make it worse. Only now that the youth vote is leaving them they may at least pay lip service to it. It’s honestly disgusting.
The solution is to build more housing.
That is part of the solution, the othee part is not letting a foreign owner buy a place and leave it vacant.
Why do people always specify “foreign” owners? I don’t see how being born in Canada should enable one to hoard housing.
House Hoarding is also an issue, but at least a Canadian is going to rent it to make cash and provide housing. Foreign owners often sit on empty prooerties to move money from China (or elsewhere) and so you have a full house vacant. This creates a lot of housing supply issues thus driiving prices artificially. If we had enough units available for anybody looking, even canadian house horders woyld see rental price drop, and make it not so lucrative to rent
That would require making more land and increasing the capacity of existing high-use, aging infrastructure for water, sewage, power, and trash. I can find you a cheap place to live out in the sticks. Hell, the town down the road from me has brand new, 3BR 2.5BA 1900SF homes with garage for $270k (USD). You only need 2BR/1BA and 1100SF? $150k. Thing is, it’s a 30-40 minute drive to the center of my 200,000 person MSA. But this isn’t a fun, entertaining city with excellent walkability, public transit, a major airport, and multiple concert venues and public spaces so people aren’t flocking to move out here.
So BlackRock can buy it and rent it out to people for $3,000 a month? What use is more housing if rich people who own 1,000 houses are just going to buy it? The solution is more complicated.
The solution is complicated because people can’t agree on the problem.
As with your comment and subject of the article there is plenty of people that are perfectly happy with the housing crisis as long as the remain to the favourable side of it.
Triple property taxes for units not occupied by owners. Quick fix.
The issue is owners just fake the documents when your property tax or vacancy tax mail arrives. Friend of mine rents basement suite, landlord has not lived in main house for over two years, it has been empty the entire time. somebody comes every few weeks to collect mail.
Then why not check on it occasionally and put a hefty fine on it when they fake the documents? If you cannot make a new and important law because rich people will try to bypass it than the state is useless.
Forbid corporate ownership of anything under 4 units/12 bedrooms, and require them own 100% of any contiguous building over 4 units. Added taxes will just be passed on to residents. Corporations are used to aggregate money (both public corps and family/friend groups) and avoid taxes.
Then make a financial law that forbids making property loans with collateral which includes any real property that is not the property being purchased. No condo bros buying units and then re-fi-ing out to buy more.
Property taxes of 100% for units not occupied by owners. Income taxes on rental of 110%.
Problem solved.
well as long as you are admitting you are ok with state sponsored theft. Very Putin of you
I don’t think you have put any thought in to this. How would that solve anything exactly? If you taxed rental income at 110% then nobody would ever be a landlord, and all existing landlords would evict their tenants immediately, leaving millions homeless. Do you just want a system where you can only live in owned properties and renting is forbidden?
