Municipal and provincial governments are just chasing votes. What’s needed is a clear understanding of the problem that’s occurring EVERYWHERE in the world. It’s a lack of affordable housing.
It’s simple, we need to vastly increase the supply. Just look at the value of taxi plates. Thanks to Lyft, Uber, and the government they are worthless. An infinite supply of taxis creates no value for the licences. 10 years ago a plate in NYC was worth over $1 million USD. We can reduce the annual price increases of real estate to manageable levels by having more supply and choice.
Our governments opt instead to reduce supply through anti-development measures, or reduce demand by consumer stress tests. What we all need is a clear choice by government to make it easier to buy a home.
Our messed-up housing policy is killing the Canadian dream | The Globe and Mail