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Are housing coupons a good answer to the housing crisis? Instead of a foreign homeowner ban, which is very politically difficult to achieve, or mass building of cheap housing, which would require the government to acquire and purchase very large plots of prime real estate in downtown Vancouver or Toronto at market prices, would housing subsidies in the form of coupons or vouchers funded by property taxes be a better answer? Say if you are someone who makes 60000 USD as year, and the property you want to rent in Vancouver is renting for 3000 USD a month, the government subsidizes 80 percent of that so you end up paying only 800 USD a month, which is more viable, or course the size of this subsidy would be tied to your income, as reflected in your income tax report. I do not know if this is already being done, but what I am proposing here is a massively stepped up program.
Why would the government subsidize foreign home buyers?
Ditto that question.
What possible benefit could there be in it for Canada's government and all Canadian tax payers to do something like that? Canada isn't for sale and doesn't want foreigners buying up Canadian properties, let alone subsidize them to do so.
Personally I think a foreign homeowner ban is best. If foreigners want to buy Canadian properties let them do it after they immigrate to Canada and become permanent residents / citizens of Canada first. Let foreigners demonstrate their sincerity in investing their selves in Canada instead of expecting Canada to be further investing itself in them. Canada already does enough for foreigners and doesn't owe them any extra favours.
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