Trudeau and Tory: Our national housing strategy has eliminated people sleeping in the park. That’s why we’re doubling down on giving our friends subsidies, so we can continue this progress.
🇨🇦 violence against homeless people in a way that would make third world dictators jealous of the lack of scrutiny it attracts.
Cleared the park in 20 minutes.
Homeless people? Lives uprooted, again.
Activists? At least $5k in legal fees, and a record.
Putting out an ABP for all officers to report to Lamport Stadium. Bring your batons. The owner, the City of Toronto, asked to enforce a Trespass to Property notice.
FYI, that meansTPS didn't just show up for a fun day at the park. The City of Toronto ordered them to.
Why is every politician discussing their aggressive plan for affordable housing?
… even the ones you know don’t care about it?
Well, they hijacked the term and weaponized it against the people who need it. Here’s how.
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2/ in 🇨🇦, the term affordable housing now means a rental that’s 1/3 the median household income.
First off, a third of income isn’t really affordable. A third of income is the max allowable payment a mortgage borrower can accept before they’re considered too risky of a payer.
3/ so, affordable really means the max a person can reliably pay without being a default risk in this case.
in Canada, it also means maximum regulatory leverage. That doesn’t feel the same, does it?
Wait until you realize how that plays into distribution.
About 80% of Singapore’s population is housed in public housing, but not the kind in the West.
Low income families & young couples to high income bankers and business people live in them.
They’re incredibly affordable. How? Only citizens can live in them.
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2/ Singapore’s public housing scheme is run by its Housing & Development Board (HDB), and public housing is appropriately called HDB flats.
Rather than auctioning off all gov land to private companies, the gov develops the land and sells 99-year leases for the units.
3/ Since these are leasehold properties, with the government retaining ultimate control over the land.
The homes are traded in open market, and you can get a mortgage to buy them. Appreciation is slowed as the units approach the end of their life though.
Higher property taxes. Higher home prices. Disregard of basic real estate education.
Let's talk about how you were sold into advocating for those issues against your own interest, by politicians pushing for broad zoning deregulation.
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2/ First, let's discuss that we need more housing & governments supportive of building more homes.
However, we also need to discuss how lobbyists & politicians in the deep pockets of developers, intentionally conflated the need for more housing with deregulation.
3/ you also need to understand this little issue: real estate is valued at its highest & best use, not its current use.
btw this is from the textbook Principles of Appraisal, so every real estate agent in Ontario understands this, but not all will admit it.