The issue is not who is buying as much as why is the government not simply increasing the supply to match the demand. Why? Because then it would affect real estate value and those invested in real estate only want to see their invest increase in value. That said, those invested have done a bagger of a job making people think it is immigrants causing the issue. It is not. It is the lack of supply and there is no relief coming as that would mean prices work fall and big money controls the government not the voters.
What makes you think the government has the slightest interest in building any social housing, much less lots of it? What’s the net positive for them?
Just remember that every home and land owner will instantly vote out any government that messes with their nest egg’s value.
You could try and argue there’s more people who want cheap housing than those who already have it but it’s nowhere near enough to keep a government elected.
Built by who, and on what cheap land? It’s not going to be the government, any government even trying that will be voted out instantly so it will never happen because there’s no money for it.
Any private developers will be seeing it as a money making opportunity and price it accordingly.
Just build cheap, public housing and a lot of it and it will bring down the cost of real estate and rent for everyone. Governments know this, but they do not want to impact the high value of real estate as it will impact their chances of winning another election. Canada let in millions of new immigrants which is great and makes the country wonderful overall all, but at the same time the supply of homes has not kept up at all so naturally demand is way up and supply has not really increased. Perfect storm to drive up real estate prices and make the rich richer. The thing is though, it is not sustainable and leads to society collapse if not rectified. Hard to rectify when you are balls deep kissing the wealthy’s asses as they for sure do not want to loose their billions. Canada has put themselves in an impossible position where doing the right thing for the masses,does not make financial sense. It is disgusting and really makes has killed my faith in government.
What it doesn’t say is: who IS buying these homes? Someone has to, it else they’d stay vacant until the prices dropped. Why don’t they say?
The issue is not who is buying as much as why is the government not simply increasing the supply to match the demand. Why? Because then it would affect real estate value and those invested in real estate only want to see their invest increase in value. That said, those invested have done a bagger of a job making people think it is immigrants causing the issue. It is not. It is the lack of supply and there is no relief coming as that would mean prices work fall and big money controls the government not the voters.
I’m not sure how you simply increase the supply. Can you explain?
build a fuck ton of public housing. like too much. a shit ton
What makes you think the government has the slightest interest in building any social housing, much less lots of it? What’s the net positive for them?
Just remember that every home and land owner will instantly vote out any government that messes with their nest egg’s value.
You could try and argue there’s more people who want cheap housing than those who already have it but it’s nowhere near enough to keep a government elected.
Not collapsing society?
Society won’t collapse but people are gonna need to get used to living in small places. 1200-1400sqft for 2 people will be a luxury in a big city.
Single detached? Forget it.
Built by who, and on what cheap land? It’s not going to be the government, any government even trying that will be voted out instantly so it will never happen because there’s no money for it.
Any private developers will be seeing it as a money making opportunity and price it accordingly.
yeah it would cost money but the federal governmnet blows a staggering amount on bullshit already so it’s not a big deal
Cut fossil fuels and animal agriculture subsidies and bam billions are freed up. Those industries dont need welfare.
Which bullshit is that? Details please.
Giving weapons to genociders for inr, tax breaks to oil companies for two
Neither of what you mentioned will change. You might as well scream at the tide.
Just build cheap, public housing and a lot of it and it will bring down the cost of real estate and rent for everyone. Governments know this, but they do not want to impact the high value of real estate as it will impact their chances of winning another election. Canada let in millions of new immigrants which is great and makes the country wonderful overall all, but at the same time the supply of homes has not kept up at all so naturally demand is way up and supply has not really increased. Perfect storm to drive up real estate prices and make the rich richer. The thing is though, it is not sustainable and leads to society collapse if not rectified. Hard to rectify when you are balls deep kissing the wealthy’s asses as they for sure do not want to loose their billions. Canada has put themselves in an impossible position where doing the right thing for the masses,does not make financial sense. It is disgusting and really makes has killed my faith in government.