By eliminating ageism in Canada’s housing policies

$5 billion in compensation could be delivered by asking those who’ve gained the most from rising home prices to show some reciprocity to the young people who’ve protected their wealth gains.

There is structural ageism in housing policies that protect wealth gains from (primarily older) homeowners at the cost of affordable homes for the generations who follow. A first step to eliminate it is making property taxes progressive – just like income taxes.

Our approach asks the 10% of owners with homes over $1 million to contribute slightly more (just 0.2% – 1%) to invest more in affordable homes. This design better captures wealth gained from decades of home value increases than changes to capital gains or the principal residence exemption.