Housing prices never go down, not substantially unless it’s in response to a huge economic or global crisis. Building affordable housing into the existing infrastructure is needed. Regulations on rental properties. Municipal and provincial governments need to cap rents and enforce it heavily.
They don’t want to say “home prices should go down” because so many people have bought expensive houses & they don’t want to ruin people’s retirements or existing investments. That’s why they only talk “supply”
The intention is to raise home availability and lower prices of new homes while not reducing the value of established homes where Canadians have invested most of their retirement money. This is a partial quote.
I don't know about that. He clearly states that his focus will be on increasing the supply of affordable housing, which has been conspicuously absent as a priority for too long.
That’s capital-A affordable (aka social/gov’t/non-market housing). It’s currently 4% and I think the most ambitious plan I’ve seen gets it gradually to 8%? Worth gov’t funding.
But ignoring the housing *market* (90%+ of people) is terrible policy
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But ignoring the housing *market* (90%+ of people) is terrible policy