Common Wealth Canada
@commonwealthcanada
One Aussie says what all Canadian politicians won't. "As more of the population bought into housing as a wealth-building tool, price increases became not only inevitable, but politically desirable." Can you imagine an elected official saying this?
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The greatest conflict of interest: 95% of Canadian MPs own property, 40%+ are landlords. "They definitely don't want the price to go down because they need the money." Nobody in office is saying it: homes can't both be good investments and affordable.
The US, UK, Canada and Ireland all have a similar number of housing units per capita, yet Canada is far more expensive. Of course we need more homes built, but this just shows that there's more at play than just supply.
"My paycheck goes straight to rent -- there's nothing left." How many Canadians see 50-100% of their income get sucked up by land rents and income taxes? We should untax work, and shift taxes to the rental value of land.
Toronto real estate broker John Pasalis talks about land value tax, an old idea with renewed interest to improve the housing system.
If we want affordable homes, we must break our addiction to high and rising home prices, which come mostly from land values.
How to unf**k the economy This finance expert says tax land. Land rents are effectively a tax on the next generation and workers. We should AXE THE TAX on young people by sharing land value better. This is how to unf**k Canada
At the root of our housing crisis is the collective desire to treat homes as an investment, not just a place to live. How do we turn that around?
"Some of these places don't even have closets. Investors aren't very choosy about whether the floorplan works...they just want the best value for their money." Our economy treats housing as investment first, home second. Time to reverse this mindset.
It's completely absurd that a city like Toronto has so much low-density housing around transit. The incentives are all backwards. It should be more profitable, not less, to build & maintain homes than to hold land underused.
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