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B.C. housing plan could see 293,000 new units over next decade, says report
(www.nationalobserver.com)
this post was submitted on 08 Dec 2023
61 points (100.0% liked)
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That won't do anything unless we also ban hedge funds and REITs from buying them all.
They aren't worth anything until you sell them again. Billionaires hoarding houses is mostly hype, we just (measurably, sources available) don't have as many houses as other similar countries do, for some reason.
That's a misdiagnosis of the problem. Hedge funds and REITs are not the primary drivers of demand. People keep saying this, but even though we should build non-market housing, banning institutional investors from buying real estate is not nearly enough.