Quote:
Originally Posted by Nehkara
A temporary rent control should have been put in place to stop people being driven out of a city that is already desperately in need of people... and most of the people we seem to need are the people who won't be making tons of money.
Rents doubling overnight is ridiculous. I am not saying Landlords shouldn't be able to capitlize on their investment but gouging should not be allowed.
|
Rent Control is a bad idea.
I agree with you on this statement, I also concur that I believe most other provinces have rent control. however, its existance isnt the point, it's implementation process should be.
Let me clarify. When rent control is imposed, it is a fixed dollar amount as based on the current market rate. That being said, it means that your rent would be fixed at what it is now. It would not double overnight, but conversely nor would it decrease to create what is essentially dubbed "affordable housing."
That is why it is a "bandaid" fix. You have to apply pressure to market from within. The government stepping in to build affordable housing intitiatives are what are commenly known in most metropolitan areas as: "The Ghetto" or "The Projects."
Perhaps a more beneficial solution would be to more strictly legislate the abolition of apartment complexes to be turned into condos. Maybe a designated ratio for companies to slow this down a little. For instance if you were required to have a 2:1 Apartment building to Condo ratio (for argument's sake) if you would like to build a Condo building, you must have two apartment buildings to offset it.
Just a thought, obviously this plan would have its own ramifications, but I dont believe that rent control is the fix-all solution it is being passed off as.
Locke.