PLE 535 Lecture Notes - Lecture 3: Urban Land, Market Failure, Capital Market
28 Nov 2017
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Refers to the actions of government, including legislation and program delivery, which have a direct or indirect impact on housing supply and availability, affordability, housing standards and urban planning. Growth plan says 30% of the area has to be new development impacts what developers can do. 15% non-resident speculation tax: prevent escalation of housing prices. Expansion of rent control: only applied to buildings built before 1991 but now it applies to all rental stock. If you build rental housing you get a tax break to incentivize affordable housing. Interpretation assigns responsibility to provinces: no coordinated effort. Main arguments: housing is expensive, supply unequal to demand or vice versa, planning and building regulations impede markets, long term asset vulnerable to short term conditions. Main arguments: benefits beyond being able to pay. Important to social and physical well being: neighborhood conditions, homeless people in the community.
