They can't though, even over time. It's $600 BILLION, not million. That's 5x larger than the total current provincial debt. If they issued that as bonds, it would ruin the credit rating for the province and cause massive inflation.

AND, that's just to get us to Vienna level of social housing, which as stated in the article I linked isn't helping keep the market under control any more.

If you want the government to issue that much debt, how exactly are they supposed to pay it back (and the interest) if they don't charge at or near market rents? If you buy a million dollar property, even at the bank of Canada rate of 3.25%, that would be $32,500 a year in interest costs, or $2700 per month. Which means that they have to charge at least that to even service the debt, and more if they ever hope to pay it off. That's a starting point that's already unaffordable.

Why are you against replacing income tax with land taxes? What's the actual reason you're against this.

While I do want LVT, and it is quick and simple, LVT can't actually happen anytime soon. It's political suicide. It literally relies on destroying the equity of every single home owner. Given that residential properties are still about 65% owner occupied, and home owners tend to vote more than renters, there's no way they will ever allow a policy like this to take away their hundreds of thousands (or millions) of dollars.

However, all these other suggestions are nothing but band aids. There's a simple problem, you can't have home prices stay up, and also have affordable housing. Building more housing, building more social housing, first time home buyers credits, rezoning, none of these actually reduce the prices of homes at a realistic implementation, even when done together. Until policies designed to significantly drop existing house prices are implemented, the situation will get worse.

I want better for my kids.