This was easily foreseeable. The only way to get affordable housing in a market economy is to increase supply or decrease demand. This policy did neither
Completely agree and I would even say this policy made things worst disincentivizing developers to build because it makes the project more expensive. In my opinion the best that the government could do is 1st make construction easier, 2nd forbid corporations to own multiple units and 3rd ban Airbnb.
Back in May, there was a law on the books in the Quebec legislature to fine Airbnb for every unregistered unit on their site. I hope that gets through soon!
This was easily foreseeable. The only way to get affordable housing in a market economy is to increase supply or decrease demand. This policy did neither
Completely agree and I would even say this policy made things worst disincentivizing developers to build because it makes the project more expensive. In my opinion the best that the government could do is 1st make construction easier, 2nd forbid corporations to own multiple units and 3rd ban Airbnb.
Back in May, there was a law on the books in the Quebec legislature to fine Airbnb for every unregistered unit on their site. I hope that gets through soon!