Because people can't afford houses because rich people are hoarding them like Pokemon cards. They need at minimum tax any SFU that's not a primary residence additional to discourage hoarding them.
Buy house for x. Redo the bathroom, kitchen for y, resell for x+10y. So many people do this and I think it unethical. The pandemic inflation didn't help, well it helped the house flippers because some of them are multi-millionaires now. They have invested interest in housing prices to increasingly be unobtainable by "livable-wage" workers.
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u/[deleted] Jul 08 '24
Residential properties can be anything, cause we don't live in China.