What Vancouver’s empty home tax really means for Canada’s housing supply

The Canadian housing market is struggling with a supply-demand imbalance, leading to higher property prices, rents, and homelessness. Policymakers are using short-term measures like vacant property taxes, such as Vancouver's increase from 1% to 3%, which has improved housing availability but not reduced rental prices. A comprehensive strategy, including supply-side measures and affordable housing initiatives, is needed to effectively address these challenges.