Author Topic: Ontario Housing market - Stronger rent controls coming  (Read 332 times)

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Offline segnosaur

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Re: Ontario Housing market - Stronger rent controls coming
« on: April 21, 2017, 01:29:23 pm »
But because of the hot market many speculators, including many people within the city itself, are buying houses/condos simply as investments and then renting out those houses/condos.  If speculators weren't buying up these places, they'd be more affordable to buy for people who actually are going to live in them.
Buying a house (even if speculators are taken out of the mix) is a huge undertaking for many people, especially those on a limited income, and many simply will not be able to afford to purchase a house. Remove the ability to rent out a house/condo at a reasonable profit and instead of making thousands of houses available to the low-wage worker, you will probably just end up with a housing slump, as potential landlords don't want to buy/build to rent out, and tenants can't afford to buy on their limited salaries.

The other issue is dealing with multi-unit apartment blocks... there you have an owner who is renting out multiple units. If your plan is to punish landlords who don't live in the buildings they own, then what happens to those apartment blocks?