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this post was submitted on 11 Sep 2023
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Using your housing example: We all agree that everyone should be allowed to buy a house. We only differ on some nitpicky details of how to manage the scarcity of them.
In contrast, a rising movement towards allowing only Doug Ford to own houses, and all existing houses to be transferred into his possession would bring out the pitchforks. Other places in the world have to contend with that kind of thing. We're fortunate that we don't have to. We are all on basically the same page, which means that not being truly represented isn't that impactful, and, as such, it also means there isn't much pressure to enact change.
I don't know that we all agree with everyone being able to buy a house. I think there need to be significant limits or an outright prohibition on foreigners owning our real estate and I would go so far as to say even with non-citizens. Particularly if Canadians cannot reciprocally own property in said countries of origin.
More work needs to be done on bring non-renting vacancy property holders to their knees and banning AirBnB houses and get the message across that there's no more gold rush. Put up or shutup and get the hell out of the market if you just want to let an investment simmer. That's what index funds are for.
I don't know that we all agree with everyone being able to buy a house. I think there need to be significant limits or an outright prohibition on foreigners owning our real estate and I would go so far as to say even with non-citizens. Particularly if Canadians cannot reciprocally own property in said countries of origin.
More work needs to be done on bring non-renting vacancy property holders to their knees and banning AirBnB houses and get the message across that there's no more gold rush. Put up or shutup and get the hell out of the market if you just want to let an investment simmer. That's what index funds and REITs are for.