991–1000 of 1001 posts
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The city plan removed all the zones for single family homes
https://mountainmath.ca/zoning_map look at all the yellow. We need them to be orange in a block or two radius around all Canada Line and SkyTrain stops. There's a smattering of that but not much.
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> If developers build more luxury housing According to this reasoning, if Ferrari builds more cars, Fiats will get less expensive. I don’t think that’s how it’s supposed to work.
The vast majority of affordable cars are used cars. Used cars are cheaper when there's tons of new cars, and they get more expensive when new car production slows - prices jumped so much in the past two years that some used cars were sold for more than they were originally purchased for. We treat that weird situation as obvious undersupply in the car market, but somehow expect it with houses. Why should old, used hou…
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>how resistant people are to the idea that housing is expensive because there aren't enough homes for people to live in. I imagine there are enough homes in both America and Canada (they are two of the largest countries after all). But it's all about location. Very few can even afford to move out to the middle of nowhere just to own land. And not many people that can are willing to turn their potentially short commut…
To specifically rail on the "liberal" Bay Area and numerous other "liberal" cities in the US: The NIMBY housing policies and restrictions on building new housing are a massive part of sprawl, and with it the huge amount of excessive carbon emissions from commuting in single passenger cars. A dense city is about the best organization of people for the environment. To get things you need, you travel the furthest distan…
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Liberalizing the housing market is a slow process that will be heavily contested politically and in courts, so it won't lead to an instant explosion of the housing market. The political will to continue liberalizing the housing market will evaporate as soon as housing prices become reasonable as a result of it.
The market can generally move faster than politics - as soon as it becomes common knowledge that the housing market will be opened up you'll see a modest drop in prices, when some legislation is passed you'll see a larger drop in prices... if and when that legislation survives the court you'll see even more of a drop. This issue isn't that the laws will move too quickly but that the open intent to pass those laws wil…
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SB 9 pasted in Sept of last year that allows for duplexes on single unit lots. Here is the info for LA County https://planning.lacounty.gov/view/sb_9
I am very happy about SB9! Though as a maximalist on this I'm still upset this is the best compromise we can get since the lot of this house is definitely big enough for more than just 2/4 units. The house I live in is rented which means it actually wouldnt be eligible since the owner must live in the house for 3 years after turning it into a duplex. Maybe this will incentivize owners of houses like this to sell to p…
Ha, did not know about the three year ownership requirement, classic CA NIMBYism. Still progress.
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"Affordable housing" is one of the most expensive, bureaucratic forms of construction, not a way to build faster.
Faster than what? It takes a handful of years for a non-profit or government housing agency to build new affordable housing. At the current pace of market rate construction, it’ll take many many decades before newly built “luxury” housing filters down enough for low income households to afford it. Even if there was a massive YIMBY housing boom we’re still probably looking at 10-20 years before market rents fall enoug…
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In Norway a kommune (local authority) can institute a boplikt, a duty of residence. This means that if you purchase a house in that area it must become your principal residence.
So it's not at all possible to rent a home in these places?
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Low levels of corruptions, relatively progressive views, golden passport for travel and generally a good global reputation. > low wages Work remotely for US company or the 1% of Canadian companies that pay competitive to the US market > high tax Social programs. The taxes get curbed through corp taxes if you're in the .1% - 0.01%. Can always earn and then move elsewhere. > Terrible weather True, but can just escape i…
The take away seems to be that if you are already in the 0.1%, Canada is a great place to get a passport so that you can travel to where you really want to be.
Im one of those 'greedy' old farts who owns more than one home. We have one for ourselves and 5 rentals. Im starting to agree with those who are feeling priced out of the market. What would make me stop buying homes? A graduated tax would. If there were no sales tax on the first two, and then 15% tax on the third, 25% tax on the 4th, and going up by 10% for each subsequent house, it would definitely make me quit buyi…
I'm curious is there not a property tax effect? Here where I live in Illinois I pay property taxes on my home. Where I live it is currently about 4.4% of my home's real value every year. I am able to deduct it from income only for state income tax purposes. There are limitations there that I don't reach based on my income but also I can only do so for a small handful of connected parcels. So in your case you would on…
And Ill pay a lot in taxes when I sell the rental houses. My primary dwelling is tax exempt for capital gains but the rest are taxed at 50% of the gain. Eg. If I bought for 300,000 and sold for 400,000 then 50% of the 100,000 is taxable. So if I made 100,000 that year then my new income is 150,000 and that will be taxed at about 36% so Id pay 54,000 in taxes that year instead of 36,000.
Im one of those 'greedy' old farts who owns more than one home. We have one for ourselves and 5 rentals. Im starting to agree with those who are feeling priced out of the market. What would make me stop buying homes? A graduated tax would. If there were no sales tax on the first two, and then 15% tax on the third, 25% tax on the 4th, and going up by 10% for each subsequent house, it would definitely make me quit buyi…
That wouldn't work. You can always make more LLCs to dilute your numbers. Ultimately we need to weaken corporate ownership of real estate