this post was submitted on 23 Sep 2023
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Trudeau takes first step to break Canada’s addiction to rising home prices - The Globe and Mail (www.theglobeandmail.com)
submitted 1 year ago by sbv@sh.itjust.works to c/canada@lemmy.ca
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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.

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[–] CowsLookLikeMaps@sh.itjust.works 3 points 1 year ago (1 children)

Rarely, if ever, has a senior politician in Canada been courageous enough to affirm that home prices need to stall if we truly care about affordability.

Wow. Such courage. To acknowledge a problem after 8 years of ambivalence. /s

[–] ram@bookwormstory.social 8 points 1 year ago (1 children)

Considering his biggest donors are all speculative investors in the housing market, it is actually pretty unwise, politically, to admit that he wants to slow their profiteering.

I hate that our government is so inherently corrupt like this.

[–] sbv@sh.itjust.works 3 points 1 year ago

I think that's where the courage part comes in. They've been pretty good about beating the drum for climate change, which alienates some voters/donors, but they've only really talked about housing supply, which is a great way to keep the base happy.