What's interesting is that even though the cost of home ownership is higher, the excerpt from Carrie Freestone's analysis above shows that home owners are still accumulating savings/wealth. If all things were equal between renter and home owner (salary and expenses), the opposite should be true. This makes one wonder what is missing from the equation (which is what your suggested reading talks about a little bit).
Maybe we need to start looking at the vacant unit tax as something more than a minor inconvenience of trying to remember your password once a year for the multiple-home owners.
Let’s get those apartments built! ✊
What's interesting is that even though the cost of home ownership is higher, the excerpt from Carrie Freestone's analysis above shows that home owners are still accumulating savings/wealth. If all things were equal between renter and home owner (salary and expenses), the opposite should be true. This makes one wonder what is missing from the equation (which is what your suggested reading talks about a little bit).
There is an article related to this in the Guardian which I thought was very interesting: https://www.theguardian.com/lifeandstyle/2024/mar/19/end-of-landlords-surprisingly-simple-solution-to-uk-housing-crisis?s=08
Maybe we need to start looking at the vacant unit tax as something more than a minor inconvenience of trying to remember your password once a year for the multiple-home owners.
Justin, thanks for sharing this link, super interesting.