Oddbean new post about login | logout In QC, Canada when you buy a house you have to pay a tax that’s called « Taxe de bienvenue » which translates to « the Welcome tax » What a way to welcome someone 😂
Even with abundant land and ample wood for housing construction, Canada still has extraordinarily high housing costs. This clearly indicates a broken system.
The situation is a bit tricky. Canada needs immigration to drive the economy. With the huge flow of immigrants each year, the demand for housing is far greater than the available supply… And there is not enough manpower to build enough houses for everyone. For the consumer, it’s driving the prices up, and many people cannot afford to pay their rent in the big cities. It’s not only a question of land and wood.