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This Airbnb alternative won’t destroy Canada’s housing market
(breachmedia.ca)
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this post was submitted on 27 Oct 2023
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No. The fix is to correct the issue of investors.
Punishing housing taxes of 50% of the value of the house per year for every house per family beyond the first.
Ban ownership of housing by companies and all non-permanent residents.
I like the idea, but how would that work for apartment buildings?
The individual apartment owners have a share in the complete building.
Great, so some renters convert into owners, but net occupancy doesn't change, rent doesn't go down, and the market gets worse because there's less incentive to build more.
Then what?
If there's less chance of people being able to make bank on housing by buying up properties to rent out short term at $500 a night then housing costs go down even if supply doesn't go up. Those people are way more willing to pay $50k over asking than someone who will be paying the mortgage and living there full time.
I thought building more houses required backhoes and concrete, but you do it your way and see how that works.