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At the same time billions of people live paycheck to paycheck and they can’t afford to vote for the future with their wallets, because they have to vote for their survival right now. Demand pressure is essential but we can’t rely on just that.
Edit.: Not saying that you’re implying otherwise, I just think it’s important to add that any demand drop will be mild at best in the short term, negligible at worst, and we need to go fast so policy is necessary.
Right. I’m not prescribing how the supply should look. Whether it’s a mass deregulation and turning the entire green belt into a trailer park and importing a crapload of mobile homes, or whether we go top-down and start building Khrushchyovkas, or we invent a complicated system of co-ops, or we nationalize every hotel in Canada, whatever strategy that we take: we need a crapload more rental housing, and at least some of it will need to specifically target the most vulnerable because it’s going to take time to properly drive down rents system-wide and there are people for whom this is an emergency.