Advocates say there’s appetite for protests over the housing crisis, but several obstacles remain…
Data from the Canada Mortgage and Housing Corporation (CMHC) shows Canada has ramped up construction in recent years, including over 240,000 new home starts in 2022, just slightly down from the record-high 244,000 units started in 2021. Additionally, Statistics Canada data shows that from 2019 to 2021, housing stock growth outpaced population growth in Toronto and Vancouver, two of the hottest markets in the country.
What’s really needed: make real estate a less lucrative investment by aggressively raising property taxes (which are generally a percentage of the assessed value), or at least land-based property taxes (and encouraging dense development).
And if you raise the taxes on rental properties, who is going to eat that shit? Landlords? No. It will be renters.
Then also restrict their ability to raise rent.
So what you end up with is a home that gets repossed by the bank and for whatever reason, the banks don’t have to follow any tenancy laws and you’re out on your ass. No thanks.
Good. Then it penalizes empty rentals and gives the government more resources to combat housing inflation.
That makes no sense whatsoever.
It’s not like those places will be empty. It will just be filled to the brim with tenants who split the higher rent. That’s not solving the housing issue.