toronto is kind of still coasting on fumes from post-war investments in housing, transportation, culture etc. i live in a walkable paradise with world-class access to transit – but most of the province is a suburban car wasteland.
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why haven't these big land-rich countries been able to stabilize housing prices?
they constantly pump up demand (subsidies, immigration to some extent, fin and other deregulation, tax incentives) while ignoring supply (social housing, zoning, improving construction productivity)
basically anglosphere gov'ts kind of pretend that they have no control over the housing system, and the political economy of housing (~69% of cdns own RE) demands perpetually increasing real estate prices.
construction costs are growing WAY faster than inflation but we just shrug (cc Alon)
- from ~1955-94 about 10% of all new housing in Canada was social housing, so do that again (hashtag abundance)
- every city over 100k people gets a world class transit system
- zoning obv
- somehow redirect speculative investment $ towards productive industries
Comments
they constantly pump up demand (subsidies, immigration to some extent, fin and other deregulation, tax incentives) while ignoring supply (social housing, zoning, improving construction productivity)
construction costs are growing WAY faster than inflation but we just shrug (cc Alon)
- from ~1955-94 about 10% of all new housing in Canada was social housing, so do that again (hashtag abundance)
- every city over 100k people gets a world class transit system
- zoning obv
- somehow redirect speculative investment $ towards productive industries