This graph is cherry picked from the worst of Canadian sectors and the best of American. Still in general Canadian housing is bad. The problem isn't about building houses. Everyone wants to live within 30 miles of the border. All our farm land and natural green space is in the same location. So what would you do? Which would you have us do? Bulldoze farm land, or bulldoze protected green space that is already threatened? If it was as easy as "build houses" we could have done that. We have more than enough houses/accommodation for everyone. But much of the available supply is bought up by people that have more money than the people that need the housing. Add in foreign investment, corporations, speculation and pent up demand.... Well here we are.
The boot licking is strong with this one.
I don't know, I'm a pretty left leaning person. The vitriolic, almost violent responses to some of my comments is shocking. I knew Lemmygrad was a thing here, along with tankies, honestly it's off putting to say the least. OP talks about Reddit being an echo chamber. I got news for you. This place is just as bad for lefty type discourse being regurgitated. My experience is that it has been anything but friendly.
This is what a bubble looks like.
Nice, I hope the app is making enough to keep the updates coming.
I'm a land lord, did exactly what people say we all did. 15 years ago I bought two 200k homes for 30k each.. they are an income plan for my kids so they don't have to necessarily worry about taking a better paying job instead of something they want to do. Probably a little naive now. But I run the houses at a bare minimum profit just so the government won't come after me due running a loss on my taxes. I have raised rent only enough to do that. I pay for a property management firm to take care of the properties so that the tenants have 24 hour response to issues. I've had the same tenants for 12 years in both properties. Every 4 years or so I have one of the rooms that the tenants want renovated. It's a right off so doesn't costa fortune ava the house gets slowly updated. Not every landlord is an asshole. Some of us play the long game without screwing people. But I realize that I am part of the problem. I am part of the reason for less supply in the market. But selling my properties will make my children's lives less secure and I'm not willing to do that. So i do partially deserve some of the blame.
I owned an f150 for 11 years. It's honestly been my favorite vehicle. However, in the time I owned it, I used it to tow my motorcycles and race gear, I renovated almost every room in my house, and I had a seven kilometer drive to work. It was an extremely useful vehicle. Anyone that needs a truck will immediately argue with you that they aren't necessary... For some people. My kids got a little older, and I need to drive them and their friends around, I sold the bikes, and I sold the truck for 50% of what I paid for it. I bought a 6 seater explorer. You may not like trucks, but they have their uses. If they sold UTEs in the USA/Canada I would have bought one in a second. I used to carry a tow strap too to pull civics out of the ditch during snow storms.
Farmers almanac, the astrology of meterology.
I'm a sync ultra user. My sense of superiority is only eclipsed by my ignorance of what FOSS stood for. But seriously use what you like. I just want lemmy to grow.
Ahhhh, all these posts make so much more sense. Lol
Can I ask, what the heck is FOSS?
Rental income is taxed at 100%, FYI.
I think carrot works better than stick. Instead of punishing everyone who made an investment, and spending god knows how much money to enforce it, just offer a one time capital gains exemption on any investment single family dwelling that has rental income for more than a year. But make that exemption dependent on the sale going to someone who doesn't already own a home. (No landlords scooping up extra properties) this puts sellers in connection with buyers and since the seller is getting a big payout they can do the extra leg work. I bet many of the properties get sold to existing tenants.
The government gets an easy cost effective way to free up supply, and it doesn't actually take money out of their pocket. (Just removes future tax income). Limit the program to no more than 3 years. Anyone who is a casual landlord will jump to get out. Boomers in retirement will jump at it as they will have owned these properties for years. This will free up supply in months, not years. Everyone I know who owns rentals that I discussed this with said they would sell if they could avoid capital gains.
That's my $0.02. FWIW