At last, someone from the world of politics is being honest about a pervasive and harmful trade-off. When home prices rise faster than earnings, owners like me gain wealth, while non-owners lose because their incomes fall further behind housing costs.
Honesty is saying that home prices have to fall. But this is progress.
The Generation Squeeze folks have recommendations.
I’m not sure if you mean “residency” as in residents of Canada, or residency as in living in the property.
Assuming it’s the former: Removing some investors from the pool of buyers would probably help a bit, but I’m not sure it would have a significant impact outside of a few markets.
Assuming it’s the latter: NB taxes non-primary residences at a higher rate and has still seen significant price growth.
“Yes.”