this post was submitted on 05 Jul 2023
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Things have gotten so bad that I'm willing to vote for whoever takes the most significant measures to make housing affordable. Here's a half-baked assortment of the sort of policies that would either increase supply or reduce demand:
Allow mixed-use medium-density housing in areas that now allow only single-family homes. Allow mixed-use high-density housing to be built in proximity to subway, train, bus stations.
Reduce the taxes and paperwork required to (re)build a home.
Pay several architecture firms to design a variety of housing and offer those projects free of charge to the public. A la "Vancouver Special".
Use public land to build social housing below market rates
Municipalities buying old apartment buildings and renting them out below current market rates
Maintain a central registry of who owns what housing and who lives there (necessary for the policies below). This can be used to audit abuses
Raise property taxes on vacant housing
Introduce a new yearly anti-speculation tax that depends on the owner of the unit:
Halve immigration targets until housing crisis is over
Edit: 10. Eliminate parking minimums. Let business decide how much parking they need.
I concur. The real estate industry is really hindering creativity and productivity in all other industries. It may well be a vicious circle too.
Canadian government, please help diversify the country's industries, otherwise it will become riskier and riskier to invest in Canada and for it's entrepreneurship to run properly.
When you diversify and allocate available resources to a healthily wider spectrum of industries, all other industries will eventually need more land and properties anyway, which would healthily boost the real estate market in a constructive manner. It can also prevent structural job loss in case the property price bubble bursts.
Work smarter. Entrepreneurs shouldn't all rush into some don't-need-to-work-their-brains-as-hard industries like real estate.
And voters please make your vote wisely. Tell your friends about this too.