Canada

The government needs to step in and turn the CMHC into what it originally did: creating massive supply of cheap viable housing.

I don’t think the evidence is supporting a pure free market on rentals is working. Markets need to serve a human need, and in this case they’re failing.

Subsidies provide zero incentive, they just transfer public funds to REITs and investors.

I would be in favour of adding steep taxes and fixing the amount profit delivered to investors through REITs, which would cap investor demand for them and favour a long tail of owners.

Then they can give credits/exemptions for large buildings and new builds. And maybe introduce a home buyers plan where older buildings that REITs want out of can be purchased by the tenants with the government contributing a direct loan for the upfront costs, and having an accountant in the mix to ensure proper Strata funding after.

I don’t know, it just feels like we haven’t tried much of anything here.