Same old, what you described is Reaganomics.
Its never worked.
Take a look at the problem with your attack on immigrants and your belief lowering immigration will fix the housing issue.
Turns out that most of our construction workers right now are immigrants and now we don't have enough of them to build as many houses as we were previously.
You are quoting an article from a far-left source that gets millions of dollars of taxpayers money from the Liberal government, I would take that with a grain of salt. Now that Carney is in the lead, they are going back to Trudeau's mass immigration policy. You used a typical Communist ploy, I am not attacking immigrants. Just saying that uncontrolled immigration = rapid population increase and that has very negative consequences. See look at Germany, they had mass immigration for a long time and they got a housing crisis and so does Australia. All places that had uncontrolled immigration ended up causing great wealth inequality. As for construction workers, here again Trudeau brought in anybody to this country in his desperation to increase the population. Lots of low skilled workers, temporary workers, students, and asylum seekers (this is the worst type of immigrant as most are leechers, they get way too many social benefits and taxpayers get the bill. I hear many hotels in Niagara Falls has been taken by the Federal government to house asylum seekers. I am not saying all are bad, but the majority are fake asylum seekers looking to get the freebies). Do you really think any of these people will work in construction?? Toronto's present unemployment rate is 8.7%? How can there be a shortage of workers? That is lies the Federal government is telling people to justify their mass immigration policy. Look, it is does not get simpler then this, you got the most elementary law of economics, the law of supply and demand. When demand exceeds supply, prices go up.
Now on to your other point, the 1950s saw a population boom also but there were much better able to deal with it. Why? Back then there were much less taxes and regulations. Today there are so much politics, NIMBY, taxes, and regulations. Today in Toronto, about 1/3 of the cost of homes is all taxes, fees, levies, studies, etc.. And all three levels of governments are responsible, but the Federal government is 100% responsible for piling so many people into the country in such a short time. If all these charges were removed along with removing all the regulations, the rents would go down by 1/3 plus more investors would be interested to build multi-family apartments. Currently we are stuck in a population trap. Mass immigration, cost of living going up, less kids being born, more mass immigration, cost of living going up, and so on. With these two things, mass immigration with housing construction not fast enough, what we have is a situation where demand far exceeds supply which is why we got very high prices. Somewhere the cycle has to stop and the fast solution is to cut immigration for a while and let housing balance itself out with demand then we can resume immigration. But there is a difference between responsible immigration and uncontrolled immigration. The Federal government's job is to secure the borders, it is their job to ensure immigration is done in a responsible way. Another consequence of mass immigration is the healthcare crisis. Many people are waiting very long to see a doctor, this is a consequence of rapid population increase. We do not need more people, we got too many already. The GTA is at 7.5 million people, that is way too much.
