this post was submitted on 01 Sep 2023
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Canada
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Over 2,100 properties were self reported as being vacant in Toronto. No doubt in my mind many people lied and the number of vacant units sits around 3,500. Which isn't a lot but would definitely help.
In a city with 1.25 million homes, why are we so focused on "taxing empty investment homes" (something that already exists) for a few thousand units instead of building new homes?
Why not both? π
Yeah sure. This is more a response to the top level comment (and the general sentiment) that empty units and financialization cause the scarcity, instead of just addressing the scarcity.