The Prime Minister announced a new government agency to oversee billions in financial incentives for developers, a plan he spoke about during his election-campaign appearance on Village Media’s podcast
Housing productivity hasn’t improved at all over the last 50 years, in fact it’s gone down
Yeah, that’s why it takes something bold like putting together a new agency tasked with fostering innovative new companies. Those are the folks currently contracted to build the 4,000 affordable homes in the first wave.
Voters would actually be quite unhappy with a 20% drop in prices that occurs too quickly and doesn’t have an external event to blame.
Remember, the time scale is 2035, which should have two elections beforehand.
A chunk of voters would be happy, another would be unhappy.
The Conservatives would eat his breakfast in the next election if he dropped the value of homes by 10% before then.
That’s a fight almost any politician would love to have. “We’re here making things affordable for the middle class and our children and you’re complaining that they can finally buy homes?”
the liberals launched a “National Housing Strategy in 2015”… it’s 10 years later and things are just significantly worse.
I don’t find this argument particularly persuasive. Many governments have tried many things, that doesn’t mean nothing can work. This is a significantly larger. more concerted push at the problem than anything that came before. (And y’know, presumably won’t get interrupted by a pandemic.)
Most rural houses are effectively worthless and practically ghost towns
This happens everywhere, not unique to Japan or even demographic decline.
Excellent, so here’s what we’ll do. Ping me in 2035 and we’ll see if I’ve made a whole bunch more money or if my property has gone down in value.
I know I’m right here, which is hard for me, I don’t want to be correct. I would rather my children to be able to afford homes.
Unfortunately, people like you keep getting their hopes up on policies that have no historical record of working. Building more homes has never dropped prices anywhere in the world. Prices have always dropped because of other factors, and specifically those factors related to investment (like interest rates going up, the defaults from sub-prime mortgages, or the stagnation of the entire economy like in Japan)
Unfortunately, people like you keep getting their hopes up on policies that have no historical record of working.
Feel free to share an example of a country with a similarly ambitious housing plan in the last 20 years.
Canada certainly hasn’t had one.
I fins the notion of “well, we tried something about a third as comprehensive and it didn’t work” to be pretty silly. It’s like folks who go to the gym a few times over a month, don’t see results and decide they’ll never be in shape. Some things require a significant effort.
I’m not saying there’s a guarantee housing prices will drop but to declare they can’t because “a government said they’d try, they didn’t do much and nothing happened so nothing will ever happen” is nonsense.
that have no historical record of working. Building more homes has never dropped prices anywhere in the world.
Edit:
that have no historical record of working. Building more homes has never dropped prices anywhere in the world.
Like an ignorant goof, I forgot to mention, that it has worked, in Canada! In fact, parts of the current government’s approach (pre approved design, emphasis on modular fabrication etc) are taken straight of the playbook from the last time we did this, after the second world war. For you to believe the statement above means that you probably don’t know about this neat period of history, you can learn about it here!
Yeah, that’s why it takes something bold like putting together a new agency tasked with fostering innovative new companies. Those are the folks currently contracted to build the 4,000 affordable homes in the first wave.
Remember, the time scale is 2035, which should have two elections beforehand.
A chunk of voters would be happy, another would be unhappy.
That’s a fight almost any politician would love to have. “We’re here making things affordable for the middle class and our children and you’re complaining that they can finally buy homes?”
I don’t find this argument particularly persuasive. Many governments have tried many things, that doesn’t mean nothing can work. This is a significantly larger. more concerted push at the problem than anything that came before. (And y’know, presumably won’t get interrupted by a pandemic.)
This happens everywhere, not unique to Japan or even demographic decline.
Do you own a home?
Nope. Why do you ask?
Excellent, so here’s what we’ll do. Ping me in 2035 and we’ll see if I’ve made a whole bunch more money or if my property has gone down in value.
I know I’m right here, which is hard for me, I don’t want to be correct. I would rather my children to be able to afford homes.
Unfortunately, people like you keep getting their hopes up on policies that have no historical record of working. Building more homes has never dropped prices anywhere in the world. Prices have always dropped because of other factors, and specifically those factors related to investment (like interest rates going up, the defaults from sub-prime mortgages, or the stagnation of the entire economy like in Japan)
Feel free to share an example of a country with a similarly ambitious housing plan in the last 20 years.
Canada certainly hasn’t had one.
I fins the notion of “well, we tried something about a third as comprehensive and it didn’t work” to be pretty silly. It’s like folks who go to the gym a few times over a month, don’t see results and decide they’ll never be in shape. Some things require a significant effort.
I’m not saying there’s a guarantee housing prices will drop but to declare they can’t because “a government said they’d try, they didn’t do much and nothing happened so nothing will ever happen” is nonsense.
Edit:
Like an ignorant goof, I forgot to mention, that it has worked, in Canada! In fact, parts of the current government’s approach (pre approved design, emphasis on modular fabrication etc) are taken straight of the playbook from the last time we did this, after the second world war. For you to believe the statement above means that you probably don’t know about this neat period of history, you can learn about it here!