Housing is scarce and expensive. Renters face high rents and housing insecurity. First-time homebuyers are desperate to get into the market before prices skyrocket further. Long-time homeowners wonder where their kids are going.
There’s no single cause for the housing crisis and there’s no single solution. All levels of government must implement policies that reduce demand and increase supply, such as:
- discourage speculators from buying residences as investments,
- penalize home flipping,
- reduce foreign speculation on homes,
- tax vacant and underutilized properties,
- make more residential properties available,
- encourage construction of higher density housing.
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