Quote:
Originally Posted by Nehkara
Lost money? I have a hard time believing that. Maybe they only just broke even, but I doubt they lost money.
Now they are probably mostly making a fortune off of people who now struggle to get by.
It's not right, sorry. Needs to be fixed.
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Don't worry about moving South. Move East about 2 or 3 timezones.
If it is government managed markets you seek, going to the US won't be the best solution.
You need to understand, the long term result of rent control is less rental units. You say yourself that workers can't find a place. Well, I repeat (I actually cut and paste) the long term result of rent control is less rental units.
Government bandaids are rarely the solution. Yes Calgary does need affordable housing, but the government managing the rental business is nota solution, in the long run it will make the problem worse. Many people who have rental property will convert to condos or simply sell the property away. To me the best solution is to relax the restrictions on illegal basement units.
BTW I can tell you are about 27 or younger, if you can't imagine homeowners leaking money because rent is too low.
You have to look at every perspective when you consider economic policy, and rent control makes sense for a portion of the population, but is counterproductive towards long term goals.