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this post was submitted on 14 Oct 2023
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Reducing demand. For housing. Excuse me sir, are you sure I can’t interest you in this lovely cardboard box? It costs slightly less than the 1dr you’re looking at 🫠
It's as simple as not introducing a million immigrants per year when we are in the middle.of a housing crisis. A temporary reduction makes a lot of sense and can be done with the stroke of a pen.
The same pen can be used by the feds to start buying and renting affordable housing ... seeing as the provinces don't seem to be doing anything except taking Ottawa's money.
Buying up existing stock and renting it for below market will neither affect supply nor demand. Housing prices are what they are because we do not have enough housing for our population. We need to build more (and denser) housing.
Building more, and building social housing in particular, is absolutely necessary. At the same time, building takes a long time to meet demand, while reducing demand can be instantaneous.