this post was submitted on 31 Aug 2023
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Why can't they be financial?
They could cap tax exempt capital gains like the US does, not allow writing off mortgage interest on investment properties, add a flat tax for homes beyond primary homes (like Singapore), get back to building low income housing like they used to, mobilize a crown corp to build affordable housing etc etc.
They have all sorts of helpful options, and they have done none of them despite this issue being on the radar at the very start of the recent liberal rule. All they HAVE done is driven up demand with more programs that allow more and more debt to enter the market and prodded the banks to allow mortgage terms to swell up into 90 plus years in some cases.