Could a land value tax help solve the housing crisis?

Canada’s housing crisis continues with no end in sight. Shelter – a fundamental human need – is unaffordable for millions, and the surge in property value has created two classes, homeowners and non-homeowners. These two classes are often at odds, with competing interests. Those who wish to enter the market often prefer lower housing prices, while those who own stand to benefit from higher prices.

Governments at every level have been slow to respond to the crisis and their actions have been insufficient to curb the problem. These governments often try to have it both ways, cheaper housing without costs to existing homeowners who wish to preserve their equity. At the same time, while many experts preach supply, which is essential in lowering prices, that may not be enough. Is there another way out of the housing conundrum? What if we change how we taxed property? Could a land value tax help solve the housing crisis?

On this episode of Open to Debate, David Moscrop talks with Floyd Marinescu, an activist, entrepreneur, angel investor, and the head of Commonwealth Canada and UBI Works.