this post was submitted on 25 Sep 2023
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Building on the Greenbelt would never have provided affordable housing anyway (tvo.org)
submitted 2 years ago by [email protected] to c/[email protected]
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OPINION: Doug Ford's Greenbelt reversal is a good thing — but the government's plans were never really about providing affordable housing

Written by Brian Doucet • TVO News

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[–] [email protected] 7 points 2 years ago* (last edited 2 years ago) (1 children)

Housing is unaffordable because investment properties are insufficiently taxed. This incentivises all the behaviour we're seeing. There are three classes of people in today's housing market. First is the people who don't own a home and have insufficient capital and income to afford one. The second is people who already purchased a home and have equity in their existing property to leverage against a new or additional home. The third is people who have parents or family helping them afford a home, this is basically the same as the second group, though.

Tax investment housing more. Affordability will fix itself.

[–] [email protected] 2 points 2 years ago

Yup. Go after speculators. Canadian speculators are doing this to others Canadians. They need to be hit with a huge tax, at least 20%. Watch the issue correct.