This timeline provides an overview of some of the key housing issues faced by communities across Ontario and how governments have responded to these issues over the past 50 years, including a detailed look at how the pandemic has exacerbated existing issues. It shows that, as investments in affordable housing have dwindled, housing insecurity has grown – especially among the most vulnerable communities.
I agree that such tax reform (and other regulatory measures) is really needed.
But, if the units are purpose built for affordable housing (as proposed federally in https://liberal.ca/housing-plan/ , for instance), this should at least not fall into the investor problem, no?
I don’t see anything that stops investors from buying the homes to rent out. Without it we’re bound to continue to move towards effectively feudalism.
The only thing I have heard of that will actually solve this long term is a heavy cost neutral land tax. Tax the land for the value you can get for renting it and then redistribute the tax income equally back to the people.
Ah, true. Reading https://liberal.ca/cstrong/build/ I don’t see anything that says these affordable units will be kept off the market, or that ensures they will be rented at affordable rates.
I also think land taxes seem promising, and taxes on uninhabited excess square footage, that are earmarked exclusively for building high quality public housing.