Barry Choi: These real estate changes would actually make housing affordable
Even though the federal government has focused on affordable housing in their new budget, the price of real estate remains unattainable in some parts of the country. The funny thing is, if any government really wanted to make housing more affordable, they would just have to implement a few hard rules. Doing so would be difficult and stir up controversy. The change would mean falling house prices at a time when owners have come to expect prices always to rise. Hence, the politician to drop housing prices would risk being voted out in the next election. Plus, anyone who works in real estate would claim it’s the end of the world (or the end of their profits) and use every avenue possible to fight the changes. For purely entertainment value, let’s look at some real estate rules that would actually make housing more affordable. Previous attempts Different governments at the federal and provincial levels have introduced multiple policies to address housing affordability, but every new rule s
