innsertnamehere
Superstar
RGI housing is wildly expensive. Like, absurdly so. Think $500k in subsidy *per unit*. A $1 billion RGI program would deliver maybe 2,000 units. It's not practical at scale, and ultimately serves only a small proportion of the population as you note.I oppose any kind of public assistance for home ownership. I think we should rather invest a lot more in social housing or rent-geared-to-income housing. I have a friend who is 69 and cannot retire, because you cannot apply unless you are already destitute, and then you still have to wait 8 to 10 years for an apartment.
If we want to deliver housing affordability to millions of Canadians, we need to either create a massive social housing machine with hundreds of billions in subsidies (impractical), or find ways for market-rate housing to be delivered in a way which the median Canadian can afford. The latter requires Canadians to be able to access the required capital (raise median incomes and provide appropriate support for access to mortgages which Canadians can afford and which cover the cost of new housing) and to lower the cost to deliver new housing, which requires lower tax and regulatory burdens.
The big problem to me with the Liberal housing platform is that it focuses on continuing to subsidize and build out rental and low-income housing. Important work, but it's not what Canadians aspire to and not what many complain about when it comes to housing affordability - most Canadians still manage to make rent every month. The problem is that they feel stuck in their rental units and ownership options seem out of reach.