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How to solve our housing crisis in one fell swoop
Get government out of the business of regulating and encouraging housing. Nothing does more to hinder those who could get the job done
Prime Minister Justin Trudeau has made increasing housing a top priority by committing to “the most comprehensive and ambitious housing plan ever seen in Canada.” Unfortunately, he is also committed to muddled policies that kneecap his housing goals.
The large real estate developments Trudeau needs to increase the housing stock largely depend on residential property developers’ ability to assemble land on major thoroughfares. Because the mom-and-pop shops that would ordinarily sell their land to assemblers will now face a higher capital-gains tax hit, they will become reluctant to sell unless compensated by higher prices, making many developments financially unviable.
Moreover, the new housing that does get built will be costlier than otherwise, putting it further out of reach for an increasing number of home-seekers.
Note: “The most terrifying words in the English language are: I’m from the government and I’m here to help!”: Ronald Reagan
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