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There Is No Housing Crisis | The Walrus
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Well, the market is acting rationally given the circumstances. The trouble is that the market is heavily encumbered by regulation, so the cure for high prices being high prices isn't able to exercised.
Is that a market failure, or is it that it is not truly a market, but rather a government program?
Could you name the unnecessary regulations specifically?
The trick is they're all "guidelines" that planners will use to arbitrarily foot-drag on approvals. None of them are formally "regs" but just tools for a kangaroo court to dither.
Don’t take my word for it, see this video of deposition by Mark Richardson of Housing Now TO (an affordable housing builder):
https://mastodon.social/@Pxtl/110300343308877005
He specifically calls out "guidelines which are treated like they're cast in stone". An example of such a "guideline" would be angular plane rules, which result in Toronto's wierd stepped buildings, resulting in this complaint:
Or even vaguer height limits that seem to be complaint-based:
I loathe the Poilievre conservatives, but they’re right about this. First step to stopping the housing crisis is to kick some municipal government ass. Trudeau is trying to do it with carrots through the Housing Accelerator Fund, but it’s long-since time for sticks and not carrots.
No, obviously not. That would be unanswerable and has nothing to do with the discussion. Best to read the comments before replying.
@EhForumUser @Dearche
The market has exactly zero rationality in it. The market doesn't think or do anything. It's simply economists anthropomorphising a thing that makes money for rich people.
@EhForumUser
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