this post was submitted on 14 May 2025
149 points (98.1% liked)
Canada
9971 readers
536 users here now
What's going on Canada?
Related Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Comox Valley (BC)
- Edmonton (AB)
- Greater Sudbury (ON)
- Guelph (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Windsor (ON)
- Winnipeg (MB)
Sorted alphabetically by city name.
🏒 Sports
Hockey
- Main: c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL): incomplete
Football (CFL): incomplete
Baseball
Basketball
Soccer
- Main: /c/CanadaSoccer
- Toronto FC
💻 Schools / Universities
- BC | UBC (U of British Columbia)
- BC | SFU (Simon Fraser U)
- BC | VIU (Vancouver Island U)
- BC | TWU (Trinity Western U)
- ON | UofT (U of Toronto)
- ON | UWO (U of Western Ontario)
- ON | UWaterloo (U of Waterloo)
- ON | UofG (U of Guelph)
- ON | OTU (Ontario Tech U)
- QC | McGill (McGill U)
Sorted by province, then by total full-time enrolment.
💵 Finance, Shopping, Sales
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- General:
- Federal Parties (alphabetical):
- By Province (alphabetical):
🍁 Social / Culture
- Ask a Canadian
- Bières Québec
- Canada Francais
- Canadian Gaming
- EhVideos
- First Nations
- First Nations Languages
- Give'r Gaming (gaming)
- Indigenous
- Inuit
- Logiciels libres au Québec
- Maple Music (music)
Rules
- Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I'll repeat again, I don't need a fucking tax cut. I need the price of housing to start going down.
Increase taxes on property significantly, and use 100% of that money to give everyone a basic income.
This incentivizes both people and developers to be efficient with their housing choices. Using too much housing for the area you live in? You pay extra to help out everyone. Using the right amount? No harm to you. Using less than the average? Here's a payout, thank you.
Prices overall will drop, because it's no longer profitable to simply own a home due to the taxes, and especially not if there's no people in it because the taxes won't be offset by the basic income.
All they need to do is make it so you can only own one residence, if you own a second as income property it should be taxed to the point that you want to sell it.
I was in the rental stream before and at least 1 landlord was foreign owners from mainland China--the property had sat empty for six months before us because owner was rich and didn't care about the 2k month they were losing. Another was an unlocatable landlord, the strara paperwork showed China owner, but correspondence was coming from Korean contact info. It started to look more like shell company ownership. Also have two friends who's Vancouver places are Asian owned. Owners moved back to China and main house was vacant for 2+ years, just single basement tennant paying utilities to make place "occupied".
This is a red herring.
I ran the calculations a while back, that may free up 2-4% of all housing, that is not enough to fix the problem of expensive housing. That's only 1-2 years of new building stock.
It won't hurt to do it, but it's simply not the main reason real estate is expensive.
We definitely need more housing across canada, but BC has been notorious for vacant homes and airbnb units, thus the ban on airbnb and the added vacancy tax out here.
And it should be obvious that despite new regulations being put in for Foreign buyers, Vacant units, and Airbnb, the prices haven't dropped to even pre-pandemic levels, let alone any useful amount, and they're expected to keep climbing this year.
These are all small red herrings that are easy PR wins for the government, but don't actually do anything useful to the prices.
They did drop for us in Vancouver. I'm not suggesting it accounts for the high prices everywhere but it definetly had a market affect as airbnb people dumped their additional units. One owner had over 40
Or it just happened to coincide with a massive jump in interest rates which also affected prices elsewhere that didn't implement these policies.
No there are articles about the affect upon announcement and then institution
and yet if you go look at the charts for say Vancouver and Toronto over the same period of time you can clearly see there's little to no effect from BC's policy changes.
And it's still a couple million dollars to buy a detached home in Vancouver, and the cheapest 2 bedroom condo is a half million (and it's literally on East Hastings) with most normal 2 bedrooms being listed at $600-700k
These policies haven't made anything affordable, and they aren't going to make things affordable.
Oh they didn't make it affordable, I just meant we saw price drop in market and assessments. Prices here are ridiculous. We paid 415k for 2 bedroom apartment, now it is 575k but before the changes they were selling for 675k sight unseen, just buyers snapping them up
And thus many of those buyers moved to other Canadian cities and did the same thing as Vancouver.
As someone who's trying to move back to Canada, I'm also reading that a lot of the places owned by these investors are basically useless boxes that no local would live in. So even if they got freed up, there'd be very little demand for them.
extremely curious what such a calculation entails?
I looked up the statscan data for home ownership and cross referenced it against other statscan data on rental buildings and locations of secondary homes(cottages and lake homes)