Rent Control Removal Results In Surging Rental Apartment Proposals - Toront

[Economy 53,042]

https://www.bnnbloomberg.ca/toronto-set-for-record-apartment-surge-after-rent-control-lifted-1.1286320

 

Less than a year after the Ontario Government removed rent controls, supply of rental apartment units is set to surge as proposals of purpose rental units reach a record high of 44,000 units in Toronto

 

As of right now, the housing shortage is worst felt of all in the rental market which is so tight that it is seeing 10% or more annual increases in cost

[Economy 53,042]

@Woolfsmck these are the kinds of regulations that make the issues worse when in place

 

Rent controls which were meant to protect renter's ended up causing a starvation of rental contruction and made the issue worse by restricting supply

[JustinTrudeau 2,419]

So removing rent control is actually good?

I thought it was a terrible idea, especially since prices go up almost freely, and relying on new housing can take a while to wait.

[Economy 53,042]

Just now, JustinTrudeau said:

So removing rent control is actually good?

I thought it was a terrible idea, especially since prices go up almost freely, and relying on new housing can take a while to wait.

Rent controls I think hold prices down in the short term but make them worse in the long term

 

Home builders don't want to invest in rental property if they are controlled what they can charge so less is built as a result. The competition and lack of supply over time raises cost

 

Now that rent controls are removed prices are sure to rise even faster in the short term but in the long term were better off by encouraging much needed supply

 

The housing shortage doesn't help anyone and it's especially bad in the rental market

[Woolfsmck 2,763]

29 minutes ago, Economy said:

@Woolfsmck these are the kinds of regulations that make the issues worse when in place

 

Rent controls which were meant to protect renter's ended up causing a starvation of rental contruction and made the issue worse by restricting supply

It's like plugging one hole in a dike and two more pop up.

A policy that includes population increase would be more effective