AccordionBruce, 9 months ago

@theteapixie
Because real estate in Canada is not fundamentally for housing. It is for investment profit, with housing as kind of an optional feature

Because the housing crisis is not a crisis for those who make billions on real estate by bribing politicians

Remarkable string of profits being made off this cycle:
https://betterdwelling.com/canadas-new-housing-minister-has-already-demonstrated-hes-clueless/

#vancouver #housing

Kazinator, 9 months ago

@AccordionBruce @theteapixie

The housing crisis is caused purely by unbridled population growth due to immigration, without building out our cities to keep up.

The investment profit has been possible because the fundamentals of the market (rapidly increasing demand, poorly increasing supply) support it, that's all.

Profit doesn't simply arise from people's desire for profit. Bubbles driven purely by psychology, not supported by fundamentals, soon burst.

E.g. Beanie Babies craze of 1998.

theteapixie, 9 months ago

@Kazinator @AccordionBruce

This is NOT just a result of market forces: people don’t have to choose to profit at levels that influence the structure of community. #freewill

Not all land barrons choose to price their current renters out of their homes.

But many have. Businesses now complain because they can’t source minimum wage employees, for example.

Young adults and families, of ALL employment levels, are leaving #Vancouver because the struggling lifestyle is not enjoyable.

AccordionBruce, 9 months ago

@theteapixie @Kazinator
If the Liberal and future governments had continued to build social housing in the 1980s 90s and 2000s we would have 30 years worth of social housing

Enough to support the current level of need, rather than the current level of profiteering

They choose to continue causing the problem today by not creating non-market housing

I am incredibly lucky to live in a co-op. It is solidly structured and charges half the market rents

#vancouver #housing #coop