What policy would you want to see to address this, though?
Supply side: the newish PM is already talking about post-WW2-style government-led construction, for better or worse that would keep homes in the development pipeline. What else could be done, preemptive bailouts for developers, posthoc GST cuts for presales?
Ring fence the most egregious areas of unaffordable housing and focus on housing in other areas while nudging employers and workers to move demand there.
Surely Robert, you understand the cause? Carney’s monetary policy created the asset price inflation. This will self correct over the next decade as inflation exceeds asset values.
One way to help out people who are already in trouble is to make mortgage interest deductible. There is some great moral hazard here on the other side (even higher debt levels) but it would make some funds available via tax refunds to most people who actually hold mortgages.
I think we are structurally short of affordable housing. That is a big difference. I am sure there is a lot of housing going around, some empty, some used for Air B&B. And as Stats Canada shows, there are quite a few individuals owning multiple houses...
What policy would you want to see to address this, though?
Supply side: the newish PM is already talking about post-WW2-style government-led construction, for better or worse that would keep homes in the development pipeline. What else could be done, preemptive bailouts for developers, posthoc GST cuts for presales?
Ring fence the most egregious areas of unaffordable housing and focus on housing in other areas while nudging employers and workers to move demand there.
Surely Robert, you understand the cause? Carney’s monetary policy created the asset price inflation. This will self correct over the next decade as inflation exceeds asset values.
One way to help out people who are already in trouble is to make mortgage interest deductible. There is some great moral hazard here on the other side (even higher debt levels) but it would make some funds available via tax refunds to most people who actually hold mortgages.
I think we are structurally short of affordable housing. That is a big difference. I am sure there is a lot of housing going around, some empty, some used for Air B&B. And as Stats Canada shows, there are quite a few individuals owning multiple houses...
Thank you, but I am not that well positioned to afford to invest...