Rent Control

[oil&gas]

While I don't see rent control as the solution I just couldn't see
what can be done to bring down skyrocketing housing cost. If free
market is the answer then why did the housing policies referred to in
my previous posts worked so effectively in making affordable housing
available to those in need? I think home ownership as common as it was
will become a thing of the past to the younger generation.

 

[poker]

While I don't see rent control as the solution I just couldn't see
what can be done to bring down skyrocketing housing cost. If free
market is the answer then why did the housing policies referred to in
my previous posts worked so effectively in making affordable housing
available to those in need? I think home ownership as common as it was
will become a thing of the past to the younger generation.

It’s an easy fix, and the solution already exists. Residential Zoning. Nobody should be allowed to own more than one rental property. And tax the shit out of the profits of the people than own more

I have mentioned before my my buddy left Trucking a few years ago and got into property management. He has foreign investors with deep pockets. They bought up 12 old houses in a 3 block range, put in new carpet, slapped on some paint and doubled the rent.

People that live in my city trying to buy a house competing against bid from others in the city is one thing. Competing against 15 bids from Toronto buyers, and another 15 bids from Chinese and Indian investors is not cool. That’s not free market.

Housing is a human right. Forcing somebody to pass a credit check to live indoors is unconstitutional (imo).

Now…. The flip side. My buddy has a few bad tenants. The gov’t needs to hold people that damage property, and stop paying rent for a year accountable.

I I was a landlord, and had a good tenant, I would keep rent reasonable to keep that tenant.

Non of this will happen. The system has been rigged this way for a reason…. The gov’t knows exactly what they are doing. The goal is to extract as much money from the population as they count it towards “growth”, and its taxable. The real estate community has been in bed with the government for a long time. It’s no surprise so many former politicians go into real estate and even head the Associations.

 

[NotADcotor]

Nobody should be allowed to own more than one rental property.

So the way to improve rental supply is to limit the ability of people to own rental property. Sure, sounds legit to me. ???

 

[NotADcotor]

The government now fucks with demand, and limits supply. That is conveniently ignored by all the board free market economists.

Board anything are mostly clueless morons.
I've always been disgusted at the fucking with demand and supply and am completely grossed out that any time it becomes a political issue nobody could be bothered to address those issues as they might have to explain shit to mouth breathers and be called a queerfag. Easier to go forth with ideas that sound really good but in theory an in reality always end in a bad way like rent control.

Also regardless of the level of governmental fuckery, rent control will just make it worse.

 

[poker]

So the way to improve rental supply is to limit the ability of people to own rental property. Sure, sounds legit to me. ???

Residential homes should not be for investors. That is correct.

 

[poker]

Board anything are mostly clueless morons.
I've always been disgusted at the fucking with demand and supply and am completely grossed out that any time it becomes a political issue nobody could be bothered to address those issues as they might have to explain shit to mouth breathers and be called a queerfag. Easier to go forth with ideas that sound really good but in theory an in reality always end in a bad way like rent control.

Also regardless of the level of governmental fuckery, rent control will just make it worse.

I agree with this somewhat. Government created a problem... and government fixing the problem they created usually ends bad.

 

[Darts]

"With 58,000 units, it (City of Toronto) is the second (L.A. is probably larger) largest public landlord in North America." Whenever there is a shooting, robbery, fire, etc. chances are it happened in a TCHC building.

Article is from 2008, the 58,000 figure is probably higher now.
UnHyphenated Canadian: The Biggest Slum Landlord In Toronto - Comrade David Miller

 

[bazokajoe]

It’s an easy fix, and the solution already exists. Residential Zoning. Nobody should be allowed to own more than one rental property. And tax the shit out of the profits of the people than own more

I have mentioned before my my buddy left Trucking a few years ago and got into property management. He has foreign investors with deep pockets. They bought up 12 old houses in a 3 block range, put in new carpet, slapped on some paint and doubled the rent.

People that live in my city trying to buy a house competing against bid from others in the city is one thing. Competing against 15 bids from Toronto buyers, and another 15 bids from Chinese and Indian investors is not cool. That’s not free market.

Housing is a human right. Forcing somebody to pass a credit check to live indoors is unconstitutional (imo).

Now…. The flip side. My buddy has a few bad tenants. The gov’t needs to hold people that damage property, and stop paying rent for a year accountable.

I I was a landlord, and had a good tenant, I would keep rent reasonable to keep that tenant.

Non of this will happen. The system has been rigged this way for a reason…. The gov’t knows exactly what they are doing. The goal is to extract as much money from the population as they count it towards “growth”, and its taxable. The real estate community has been in bed with the government for a long time. It’s no surprise so many former politicians go into real estate and even head the Associations.

I suspect if you did place a high tax on someone who owns more than 1 rental they would just put each unit under a different numbered company. Skirting the high tax.
Correct me if I am wrong.

 

[bigdickdean]

Been a lot of talk about rent control as the cost of living spirals out of control, and it got me wondering: why isn't rent control tied to the assessment value of the house? Rather than a quasi-arbitrary percentage chosen by a tribunal.

For instance, a property with an assessment value of $500K (which I've seen sell on the market lately for $800K+) would have a maximum allowed rent of 0.004 x $500,000 = $2,000/month. That's the total from all tenants, so it it's rented out to four tenants, we're talking $500 each max. not saying 0.4% is the proper multiplier, but I think it's in the ballpark.

That way, a landlord could only ever increase rent if they pay for a new assessment. Which comes with its own disincentive of having to pay more property taxes. On the flip side, the landlord isn't prone to getting screwed either as expenses shoot up 10% but they're only able to raise rent 1.2%.

Seems a more elegant and self-sustaining system than what we currently have.

Rent control was tried in the 1970's and was an abject failure.

 

[poker]

I suspect if you did place a high tax on someone who owns more than 1 rental they would just put each unit under a different numbered company. Skirting the high tax.
Correct me if I am wrong.

you are not.

 

[poker]

Rent control is like anything else. It is not the policy… it’s the execution.

The NFL… the West Coast offence is neither good or bad. It’s whether your team can execute it properly.

The UK has managed things fairly well as far as rent controls. What is happening in Canada now would never happen over there.

 

[Kracker]

Curious if anyone knows if/how it works in NYC? Seems common there.

I’m generally free market but of course there are areas where it doesn’t work. Pollution is the obvious one, but water as someone said and also arguably healthcare. Drug prices really are generally better in Canada.

There IS this weird thing going on now where people who work in Toronto expect to be able to live here, no matter what their salary is. I don’t think that’s ever been true in US cities.

 

[Mr.Know-It-All]

Why rent control isn’t working in Sweden

Why rent control isn’t working in Sweden

Young people are struggling to afford city living, and even the Swedes can't crack the problem.

www.bbc.com