4 ms·
>Just look at the 30 year fixed rate mortgages. They're an insane subsidization for homeowners. Canada is in worse shape, and doesn't have 30 year fixed mortga
by itsoktocry 3y ago
>Just look at the 30 year fixed rate mortgages. They're an insane subsidization for homeowners.
Canada is in worse shape, and doesn't have 30 year fixed mortgages (most are 5 years), and you can't write off mortgage interest expenses. In other words, our homeowner incentives are worse, and yet the house crisis is also worse.
That's leaves what you mention off-the-hop: we aren't building enough. But why? Is it a supply or demand problem? My country is starting to believe it's the latter.
- cglan 3y agoi mean 30 year fixed mortgages aren't the only thing. I just pointed it as example. The insane keys to power we've given homeowners to essentially fight back against any kind of building in the form of environmental reviews, and community boards are a much bigger problem. It's all a problem. Most western countries have fallen into the same trap in terms of homeownership.
- gottorf 3y ago> The insane keys to power we've given homeowners to essentially fight back against any kind of building in the form of environmental reviews, and community boards That's right. The states that have the least land-use freedom[0] are some of the worst in terms of housing availability. [0]: https://www.freedominthe50states.org/land-use https://www.freedominthe50states.org/land-use