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castanet.net 13 May, 2022 17:45 am

Help with housing solutions

There have been many good ideas put forth by Castanet readers on ways to combat the housing crisis.

With regards to single family homes, there are several large private equity firms, mutual funds and large investors (rich Canadian families) who have targeted single family homes as investments and income streams.That alone would return tens of thousands of single family homes to the market.Instead of creating affordable rentals, why not build condos, townhouses and single family homes to sell as affordable housing to low-income individuals.Then force these investors and equity firms to liquidate their portfolios.

Let’s hope our elected officials do something to stop equity firms and investors from using Canadian houses as cold investments, converting potential buyers to life-long tenants, all to the benefit of a wealthy fraction.But I am troubled to hear some economists suggest taxing principal residences through a capital gains tax.

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