I agree, a lot of the problems are regulatory. Especially NIMBYism, community consultations, and restrictive zoning. It can take a decade to build a multi-unit building of any kind in Canada, whereas the same building would be done in months in many parts of Europe or east Asia.

That said, the non-market aspect of housing has specific economic benefits. It tamps down speculation on land value, keeps markets competitive, and ensures a safety net of minimal housing. In Scandinavian countries, Austria, and Japan, public housing can be spacious, comfortable, and beautiful. It’s for everyone, including the middle class.