. This may seem like a small step, but it’s another example of the sort of tough decisions that have been punted for years.
Meanwhile, the newly minted Premier of Canada’s least affordable province also appeared to hit the ground running on housing policy. Only days after swearing in, B.C. Premier David Ebya series of measures aimed at boosting housing supply, to be implemented during his first 100 days in office.
Which brings us to Nova Scotia, where the earliest and likely most profound housing actions were taken this year. Like Ontario and B.C., Nova Scotia struck ato investigate its affordability problem and make recommendations. Unlike the other two provinces, however, it acted almost immediately. The Municipal Affairs and Housing Minister was given authority to directly review and approve housing developments in select areas, which is exactly what he did.
In sum, this year appears to have marked a sea change in housing policy, so we can look back at 2022 with cautious optimism. But we should also look toward 2023 with renewed conviction, as governments may be tempted to call it a job done.
Ban 4N & non-resident ownership. Ban Airbnb & like platforms. Cut immigration & 4N students. Ban REITs. Raise interest rates. Tax 4N capital used to purchase real estate at income tax rates. Do ANYTHING about 💰 laundering & mortgage fraud! Address toxic demand!
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