Saturday, June 3, 2017

Hot Takes with Gino Ep. 7 – Toronto Rental Market Hijinks​

The Ontario housing market is hot hot hot! But what about the rental market?

In Toronto close to 50% of the population rents, and has done so for the past 35 years. Renters are not immune from the spike in house prices. Renters are feeling the scarcity of available units just as much as those looking to buy homes. The main difference is there is no rush of developers to build new rental units to serve the demand of renters.

Why is that the case?

What key laws and bodies act to effectively restrict the rental market?

Can the Ontario/Toronto governments do anything to alleviate this situation and help renters?

What are landlords doing to illegally drive out renters?

All this and more in the latest and greatest episode of Hot Takes with Gino!

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1 comments so far

Your "solution" to remove rent control really does little to protect renters. Sure, they won't be outright illegally evicted, but if their rent suddenly doubles or triples it is effectively the same thing. Furthermore, potential rental development will still be slow to prevent the supply outstripping the demand.

The issues in the rental market are complex, and are not solved simply by removing the rent controls flat out.