this post was submitted on 14 May 2025
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All they need to do is make it so you can only own one residence, if you own a second as income property it should be taxed to the point that you want to sell it.
I was in the rental stream before and at least 1 landlord was foreign owners from mainland China--the property had sat empty for six months before us because owner was rich and didn't care about the 2k month they were losing. Another was an unlocatable landlord, the strara paperwork showed China owner, but correspondence was coming from Korean contact info. It started to look more like shell company ownership. Also have two friends who's Vancouver places are Asian owned. Owners moved back to China and main house was vacant for 2+ years, just single basement tennant paying utilities to make place "occupied".
This is a red herring.
I ran the calculations a while back, that may free up 2-4% of all housing, that is not enough to fix the problem of expensive housing. That's only 1-2 years of new building stock.
It won't hurt to do it, but it's simply not the main reason real estate is expensive.
extremely curious what such a calculation entails?
I looked up the statscan data for home ownership and cross referenced it against other statscan data on rental buildings and locations of secondary homes(cottages and lake homes)