Paul Kershaw from Generation Squeeze says the federal government needs to reduce multiple pressures on Canada's housing market.
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With the average house price at over $800K, $10B over 5 years can only build 12500 houses over 5 years at market rate.
And 2.5 immigrants will arrive in that same time period.
So basically a sweetheart deal for the construction and real estate lobby, and they will build NOTHING affordable for Anyone.
You can predict more luxury condos….
No it won’t a tax on flipping will help Canadian’s and new families. Mine has been hunting for 6 months and we are getting out bided for even fixer uppers and I won’t pay more for something that I won’t get any money back or over pay for true market value 😡
$70Bil didn’t, how is $10Bil more going to?
Wow $10B.. Someone quickly check to see if there’s any connection between Canada’s home builders and Trudeau’s wedding party.
The government thinking that somehow they can increase supply. IMPOSSIBLE. What needs to be done is make building more affordable and they really need to understand that the Demand can NEVER be met when the borders are wide open. They need to reconsider the possible growth rate of Canada, slow down immigration and provide incentives to make building houses more affordable.
There’s nothing they can do to repair the damage done by the last 20 years of inactivity by both parties to protect Canadian citizens but knew laws could help future generations. Unfortunately, a huge amount of politicians are landlords and real estate investors themselves so we know they won’t make any laws to help. All they’re willing to do make sure our tax dollars keep the status quo.
Im okay with my 14k house i cant imagine paying interest on an overly priced house .
Now im in saving mode so i can afford a new vehicle in 7 years
After WWII Canada built on a large scale affordable war time homes for returning soldiers and their families. Canada needs to do this AGAIN! As well as ban foreign investment in housing market, limit the number of rentals properties in neighborhoods.
Yeah who is getting the actually the funds? Someone’s pockets are getting fatter!!
Noone born in the 90s can afford a house rn .