Quote:
Originally Posted by Nehkara
So everyone agrees something should be done and also agrees that most of the solutions are bad ones.
Are there any really good solutions to this problem?
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The only legitimate thing to do is to have an EUB of sorts for renting. Like with Natural Gas, Landlords would have to apply to raise rent for whatever reason (land value, inflation, etc.), and show cause. Rent controls are very dangerous as a general rule and tend to crush investment into rental property. If its no longer profitable, no one will do it. Which means even less rental properties.
However, this would not necessarily be a panacea for renters, as this governing body would side with renters as much as it would with landlords. This would protect people who live in holes that the landlord feels like charging top dollar for. This rental board could also legislate yearly increases based on inflation. Can't have it all.
There is a market ceiling however, and thats the price of an average mortgage payment. Fair? Not really, but neither are the alternatives.
Best thing for the city/province to do right now is to make sure developers churn out as many houses, condos and apartments as possible. If supply can catch up, the demand will diminish, as will the prices.