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Should home prices go down? ’No,’ says Canada’s new housing minister (globalnews.ca)

submitted 4 days ago by cm0002@lemmy.world to c/canada@lemmy.ca

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[-] Rentlar@lemmy.ca 15 points 4 days ago

Probably the answer is in the sense that the government's focus should not be where the prices should be but whether there are sufficient homes people can house themselves in.

Journalists across the country and the world right now are grilling everything Carney and his team are doing, trying to catch them in a lie or something despite just being elected this past month. To be fair it's their job to ask hard-hitting questions that people want answered but I find their questions' focus frequently misplaced (e.g. asking Carney about stuff Trump talks about).

[-] sbv@sh.itjust.works 4 points 4 days ago

Probably the answer is in the sense that the government's focus should not be where the prices should be but whether there are sufficient homes people can house themselves in.

Government policy moved prices up to where they are, so all three levels of government need to remedy the problem.

The thing these conversations rarely mention is that a lot of retirement savings are tied up in homes. As long as young Canadians are being gouged for rent, it's harder to put money aside for retirement.

[-] Rentlar@lemmy.ca 4 points 4 days ago

Right but only some are the government targeting a price (e.g. the lower downpayment for mortgages under $1.5million), but the bid to build housing does not have a similar target or parameter for housing prices on the market, since ostensibly the crown corp built housing will be a mix of market rate apartments and condo units, below market rate apartments, and supportive housing.