2 ms·
Buy to let, property speculation, property as investment. Basically, houses are being used to serve profiteering much moreso than actually housing people affor
by beaconstudios 5y ago
Buy to let, property speculation, property as investment.
Basically, houses are being used to serve profiteering much moreso than actually housing people affordably.
- zip1234 5y agoThis is not the reason. The reason is a supply shortage caused by bad policy that restricts building. This might have some tiny impact on it, but is not the root cause. In Vancouver they did a tax on property speculation. Prices continue to rise because demand > supply and Vancouver has the same dumb policies as in the US.
- beaconstudios 5y agoThat can also be true, but let me point to this: https://openhousing.ca/2020/12/30/vancouver-empty-homes-crossed-30000-mark-this-year/ https://openhousing.ca/2020/12/30/vancouver-empty-homes-cros... That's a lot of un-lived-in houses.
- jl2718 5y agoMostly government loan programs and tax breaks. Also, because it’s a non-custodial physical asset, countries that allow foreign ownership get a lot of real estate investment from money laundered out of more financially-repressive countries.