Supply and demand

Re: Affordable rental accommodation

The media usually points the finger at the government for not providing affordable rental accommodation. blah blah blah. Perhaps we should look at the real reason (as I see it and my Father donated a leg in the second world war so I could voice my opinion) and that is rent controls brought in by the NDP in the seventies. Who in their right mind would build apartments with all the rules stacked in the renters favour? Notice that so many of the purpose built apartments are seventy’s vintage, around the time rent controls where implemented. Investors have put their money elsewhere, places where there is less hassle.

If the government stayed out of it, supply and demand would find it’s own level. Too many vacancies and the rental price goes down. If there is a demand for rental suites, they would be built. Supply and demand is what the business model was built on.

But place so many restrictions on an investor and supply dries up, prices go up and we have todays problem of lack of any form of rentals. So many investment homes have now gone to VRBO. My wife has two and she doesn’t have to deal with non paying tenants, grow-ops etc. It is unfair to generalize, but most landlords have some horror stories.

I know people will talk about the mean heartless landlords but they could write a book on less then desirable tenants.

Terry Feeny