Broadly, he’s a step in the right direction, turning the NDP back to its socialist roots. At some point we could just have the government build housing and old age pensions, eliminating the need to have a house be a financial instrument for retirement
Margins aren’t very high on houses for developers, its largely government policy that is the highest cost, largely things like zoning and developer taxes. So how far can prices possibly fall by eliminating the developer profit, 10% as a non-profit, assuming they can do it with the same efficiency?
Broadly, he’s a step in the right direction, turning the NDP back to its socialist roots. At some point we could just have the government build housing and old age pensions, eliminating the need to have a house be a financial instrument for retirement
Margins aren’t very high on houses for developers, its largely government policy that is the highest cost, largely things like zoning and developer taxes. So how far can prices possibly fall by eliminating the developer profit, 10% as a non-profit, assuming they can do it with the same efficiency?
You also eliminate contractor profit and so on. Much of the cost is also tied up in land value, which can be simply expropriated.