If it is a human right, then every nimby and anti growth politician is anti human…
Declaring it a right is a precursor to justifying government confiscation and redistribution of housing.
I miss the old days when rights were projections against the government.
I strongly disagree with this approach anyway. The only way it can be implemented is by using the government to take money away from one person then giving it to another person. Clearly, there’s been some strong economic booms in different areas. Why aren’t we more focused on how to help people participate in the boom? Government solutions aren’t about lifting people up. They are about knocking people down to give it to others.
Yes, not good…
The confiscation has already happened. Rent control is confiscation… Government creates no housing… just picks winners and losers…
I fear that’s mild compared to what we’ll see in the future.
Recently looked up some of the houses in Vancouver and holy moly! I cannot imagine how average people in Vancouver would be able to afford to some of those houses. It is like Cupertino prices there but even tech salary over there is half of here. One reason Condo and TH are quite popular there.
Not viable for rental? Relative to US dollar, didn’t move much right?
No, not a good rent to price ratio and on top of that Canada only have ARM only and 5 yr fixed as they called it (which is 5 years ARM) is popular option so there is high chance of rate being changed. But lower property taxes might be something that’s going for Canada. And mortgage interest is not tax deductible over there for Primary home.
Canadian mortgage rate is very low. With a 2-3% mortgage rate, people can afford more house.
Most counties only have ARM with a lock of 3-10 years. The 30-year fixed rate is an American thing. Also, I think the US is the only country that allows income tax deduction of mortgage interest and property taxes. People from other countries are always amazed they can deduct those 2 expenses in the US.
and they are amazed to pay millions of dollars for bay area.
mortgage interest deduction, and capital gains exclusion are two of the reasons why house prices are super inflated.
and that, yes. i forgot that.