Many residents have been priced out of Canada’s housing market, but for a large number of Canadians, their house is a vital asset for retirement and passing on wealth

In case anyone still wants to somehow debate whether the Liberals will deliver affordable housing.

“Housing needs to retain its value,” Mr. Trudeau told The Globe and Mail’s City Space podcast. “It’s a huge part of people’s potential for retirement and future nest egg.”

  • AwkwardLookMonkeyPuppet@lemmy.worldEnglish
    0·
    5 months ago

    I’m all in favor of preventing corporations and investment firms from purchasing houses, and also from heavily taxing private home ownership after the first one. I think that would bring the demand down to reasonable levels. The houses would still appreciate due to increasing population levels through birth and immigration, but it would hopefully keep it in the affordable for average people realm. It makes sense for your largest investment in your entire life to appreciate. It absolutely doesn’t make sense when a home triples in value in 3 years. That is causing its own financial catastrophes.

    • floofloof@lemmy.caEnglish
      0·
      5 months ago

      But in a society where no one but the wealthiest can afford to own property, does it still make sense for its value to continue to appreciate, putting it further and further out of reach until everyone is renting from corporations who own the housing stock, except those born into wealth?