Quote:
Originally Posted by Slava
There's zero percent chance anyone is doing anything, and it's not jus baby boomers. If you're 40 and just bought a house, how on board are you with a ~30% decline in value? Probably not at all.
No one is seriously happy to see their $500k home now valued at $350k so that other people can now afford houses better.
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The real trick will be to dis-incentivize owning more than one home. If we want to blame boomers, that's the target. How many have rental houses? How many have cottages and condos that sit empty 90% of the year? With fewer people owning multiple homes, that opens a lot of housing for others. This way housing prices don't have to drop a lot to increase housing stock. And if some sort of tax existed on second homes where those dollars went directly to housing projects we might actually make some headway.