Here’s a #torontorealestate FUN FACT: No amount of government manipulative or punitive measures as a response to solving housing affordability has ever and will never work. Period. One party platform promises to legislate that a person can only own ONE property, because, using their “logic” *cough*, when a person buys a SECOND property, they are preventing first time buyers from buying their FIRST PROPERTY. So let me see how this works, a Toronto home owner decides to buy a cottage in Muskoka, but the purchase of that cottage prevents the first time buyer in Toronto from buying their first home. This legislative promise is, well, laughable.
Even the lawmakers in Nova Scotia backed off imposing a 2% “foreign buyers” tax on non-residents until these non-residents threatened to pull up stakes. The gov’t was going to use the revenue from the tax to address affordable housing for the poor, however, It appears that the rural properties owned by non-residents were not in the areas where housing supply issues are actually located …like in cities like Dartmouth. The FACTS remain. All levels of gov’t need to step up and commit to BUILDING MORE HOUSING. The End.
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