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Liberals promise to build nearly 500,000 homes per year, create new housing entity
(www.thestar.com)
this post was submitted on 31 Mar 2025
246 points (98.8% liked)
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The problem is building an insufficient number of homes, below the rate of population growth, at government expense, costs taxpayers money without solving the problem. Worse, it takes the place of effective solutions.
When we learn more about this proposal, we can understand if it would lower the cost of housing. Until then, skepticism is warranted.
I think it doesn't matter whether new construction is funded by taxpayers or not. We all end up paying either way through various channels. I think what matters is how much money is collected as profit due to what we build, how we build it and how much we build.
The problem I'm trying to highlight is that this plan may give developers sweetheart deals, but leave housing prices at unaffordable levels.
It may not, but the strategy of flooding the market will fail if we don't manage to build enough houses.
The government isn't really exploring other options.
Trudeau (to his credit) talked about limiting capital gains exemptions over 250k (which could take some money out of housing), but the Liberals, CPC, and NDP allowed that to die.
There hasn't been talk of a tax on home sales over a certain value.
There hasn't been serious talk of cracking down on money laundering or mortgage fraud.
The Liberal and CPC have both talked about limiting municipal regulations as a way for developers to (somehow) build cheaper buildings.