Taxing real estate speculators who buy land and keep it until it increases in value, without building anything on it: this is one of the solutions put forward by the mayor of Laval, Stéphane Boyer, at the opening of the Housing Summit, which brings together 400 people in his city on Friday.
Posted at 10:39
“I learned in my economics classes that you have to tax undesirable behavior, so why not charge those who have land but who don’t build? asked Mr. Boyer in his welcome speech to summit participants.
The mayor of Laval recalled that owners of vacant lots often obtain a zoning change from their municipality, which causes the value of their property to skyrocket. “But it doesn’t create jobs and it doesn’t solve the problem of lack of housing,” he says.
The participants in the Housing Summit, including several elected municipal officials, are meeting to discuss possible solutions to the housing crisis that is raging throughout Quebec.
But despite the solutions that can be put forward by municipalities, particularly in their regulations, “the sinews of war is that the Quebec government invest more in social housing, because it is its responsibility, ultimately,” said Montreal Mayor Valérie Plante, taking part in a round table as part of the event.
“Social housing is not an expense, it’s an investment,” she added.
The Mayor of Montreal even made a connection between the wave of gun violence raging in the metropolis and the housing crisis, stressing the fact that providing a decent roof for everyone can be considered a prevention tool.
The summit continues all day Friday.