this post was submitted on 19 Feb 2025
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Canada
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It's currently political suicide to actually implement policies that would reduce house prices by 50%+ so the parties are just putting in those vague statements and making token gestures trying to stabilize house prices.
Unfortunately the majority of voters still own a home (older people more likely to own and more likely to vote) and it's going to be a hard time convincing those people to vote for losing hundreds of thousands of dollars in equity.
It's going to keep getting worse until that balance shifts, I'd estimate another 20-40 years, then we can start voting in policies to reduce housing prices.
I have this same fear. Someone once posted on here about the high percentage of politicians in Canada who are landlords and it really concerned me, it should be much closer to reflecting the percentage of the general population. Otherwise it seems like it would (and has) created a devastating conflict of interest π©