← Feed
@tezoatlipoca@mas.to
Post #3703208
2026-07-09 21:03 UTC
@pinhman@humanwords.party @datum@zeroes.ca @thetyee@mstdn.ca
Limited profit housing entities do exist, the problem is even while suitably funded, they can't complete for real estate against for-profit developers.
And any real estate holding entitity that itself has shareholders has a fiduciary responsibility - so when selling an apartment building, and BigDevCo offers 20% more than AffHomeCo.. .
GF does legally things for developers and non-profits's; her corporate clients all say they'd _love_ to build affordable housing _at-cost_ but they have a board to answer to. The only developers who can do the at-cost builds are the small/medium ones that are privately owned and they're not the ones who can build the things we need.
The only way to allow N/LPEs to build and develop the affordable housing we need is government intervention. Either give non profits a fist chance of refusal, or outlaw or tax/penalize REITs or something. Something that lets the non profit entity get a first chance.
$0.02
Replies (1)
-
@tezoatlipoca@mas.to @datum@zeroes.ca @thetyee@mstdn.ca Montreal has right of 1st refusal. The city can purchase any property offered for sale (at the given asking price). Why not every city?
Combine this with limited profit entities and targeted support funding and every financial support and guarantee the for-profit industry is provided in Canada
For-profit housing won’t solve the problem, neither will subsidizing the for-profit housing industry.
“new supply only emerges when prices rise and developers feel reassured they can earn a profit on their investment. Price and supply both move up together over time, with increased supply not necessarily pushing prices down.”
https://www.policyalternatives.ca/news-research/the-numbers-dont-lie-the-housing-crisis-is-not-caused-by-a-supply-shortage/
Open ##3703207