This is exactly what I'm talking about. We are never going back to the 70s and fixating on this is just avoidance of other solutions, all for the sake of ideology.
I'm not a partisan or an ideologue, I'm a pragmatist. The Vienna model of public housing is self-sustaining, and it costs less per person to house people than any market-driven solution in North American.
It is therefore the best choice.
I'm not looking backwards, we never employed the Vienna model in the past, we built segregated rent-geared-to-income housing for the most part; with some notable exceptions in co-ops.
The Vienna model is very much similar to co-ops, but the construction of new units is driven by a state enterprise.
All funded out of a housing tax that is essentially similar to the Land Transfer Tax here. But where Toronto puts those funds in general revenues, Vienna allocates them directly to new, mixed-income, self-sustaining housing, where the market rents subsidize the affordable and deeply affordable rents.
Also, the fixation on homelessness is also another real problem for the left. We see both the Liberals and NDP talk about homelessness a lot. But the public is focused on housing affordability, mostly for the middle and working class, not as much on homelessnes. If you only (or mostly) care about the homeless or those on welfare that tells people you don't care about their housing situation until they become homeless or end up on welfare. Not a great message.
I care about broader housing affordability and did not argue against solutions that address that market; only that there is a role for the public sector in seeing that people who will never afford market rents are also housed.
I've discussed extensively (as have you) the need to drop, significantly the number of TFWs and Foreign Students in Canada as one key step to see middle-class rents and ownership costs begin to recede.
Beyond that, I favour outlawing the short-term rental industry entirely (as other jurisdictions are doing with BC moving in that direction), as this would quickly return thousands of units to the rental market.
I've also advocated an end to pre-construction sales for condos, as this would instantly shift the market in favour of purpose-built rental, and away from investor boxes, and a return 1970s-style CMHC-financed new rental construction in exchange for certain affordability targets, which could be broad ( all units at or below 85% of current market rent in exchange for a huge break on interest costs), with that number secured for a period of time (ie. 25 years); or it could more niche, 25% of units to be available at 50% of market rent for the same period.
On ownership, the industry simply cannot exceed the rate of construction of the last few years for the foreseeable future; the labour shortages and even management expertise are too thinly spread as it is.
I am for measures that will mitigate that with time, but with tens of thousands of trades set to retire in the next 5-7 years, we'll be lucky to hold even.
Beyond that, eventually, interest rate relief will play a role.
Some discussion needs to be had about outlawing variable rate mortgages, and mortgages that don't secure an interest rate for at least 5 years, unless the loan can be fully paid off in less. Many countries do not allow this type of financing for the obvious reason that its too easy for people to get under water, and that can be quite destabilizing.
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We also need to raise lower-middle and middle income wages, this is addressed both by raising minimum wage and by curtailing labour supply in many sectors. (notably from TFWs and Foreign students).
