this post was submitted on 16 Sep 2023
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Don't need to build as many houses if you remove the speculators buying them out and renting them out for a premium, Building more home right now will disproportionately help realtors, and speculators more than anyone.
This is part of the problem, like AirBnB, but it's not a 3,500,000 unit problem.
Also, no realtors involved on new builds.
They are involved in assignment sales a lot of the time though.
Given that speculators and now a larger segment of the market than FTHB, I think making a 3,500,000 unit problem a 2,.000,000 unit problem, while also driving down rents is a huge fucking win.
Yes you do. Population growth went up. Housing starts went down. That's what created the shortage that speculators are capitalizing on.
Do people hoard food when there isn't a food shortage? And if they do, is it even a problem?
The shortage is what gives the profiteers and gougers their power.
The goal of building enough homes to have an OVER supply (a la Japan) is virtually impossible in the next two decades. So why not deal with the fact that speculators now outnumber first time home buyers and make them pay a huge flat tax beyond a primary residence?
The idea that we'll simply build out way out of a crisis 10+ years in the making while importing millions more people at the same time is laughable. It's also going deepen the wealth divide even more.
30% of Canadians are speculators. The leader of the official opposition at the federal level is a speculator. Tax the fuck out of speculators, minimum 25% and/or ban them.
This. Fuck. Them.