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Fifty years in the making of Ontario’s housing crisis – a timeline - Canadian Centre for Housing Rights
(housingrightscanada.com)
this post was submitted on 19 Apr 2025
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It doesn't have to. But the CPC and LPC are setting low targets for production, so we shouldn't expect many units to be built. On top of that, neither are suggesting tax changes to discourage the financialization of housing.
So it'll take a long time to get out, because there's little political will to change the current system.
This is the big one. You can build as many houses as you want and it won't help regular people if investors keep buying them all up.
I agree that such tax reform (and other regulatory measures) is really needed.
But, if the units are purpose built for affordable housing (as proposed federally in https://liberal.ca/housing-plan/ , for instance), this should at least not fall into the investor problem, no?
I don’t see anything that stops investors from buying the homes to rent out. Without it we’re bound to continue to move towards effectively feudalism.
The only thing I have heard of that will actually solve this long term is a heavy cost neutral land tax. Tax the land for the value you can get for renting it and then redistribute the tax income equally back to the people.
Ah, true. Reading https://liberal.ca/cstrong/build/ I don't see anything that says these affordable units will be kept off the market, or that ensures they will be rented at affordable rates.
I also think land taxes seem promising, and taxes on uninhabited excess square footage, that are earmarked exclusively for building high quality public housing.