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Common Wealth Canada

@commonwealthcanada

UBC's Patrick Condon has 3 solutions to the housing crisis, and it's all about land. 1. Stop using tax dollars to boost demand even more. 2. Capture land value to benefit the public, not speculators. 3. Use that value to build affordable housing.

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Many people wonder why land value tax won't just raise rents. Answer: you can't create or destroy land. That's why economists consider it the 'least bad' (even 'perfect') tax. It could lower income or property taxes and encourage more housing supply.

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By taxing land instead of buildings, owners in both scenarios pay the same amount. This encourages more efficient land use and discourages holding just for appreciation—making our housing system work better.

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Would you vote for a policy that makes homes more affordable, but noone could profit much from rising home prices? This is the trade-off we need to ask for future generations.

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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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"Land value tax makes housing affordable overnight. It pushes landowners to either sell or develop, and it starts to cost to deprive the community of the housing it needs." - @opportunityparty.info

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