this post was submitted on 01 Apr 2024
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I feel like I'm missing something. Don't we have a housing shortage, not merely an "owner-occupied" home shortage or a "rental" home shortage? Somebody please tell me what I'm missing.
If too many homes were owned by investors and rented out, why aren't rented homes more affordable? If you say, "greedy landlords," are you suggesting that the roughly 1.4 million landlords in Canada (source) are all effectively colluding? I find that highly implausible.
If we had sufficient housing supply for the demand in general, wouldn't that result in lower prices to both rent and own, depending on what's right for each individual?
When investors buy properties and set higher rent prices, non-investor landlords raise their rent prices to whatever the artificially-inflated market rate is for the area. Not all 1.4 million landlords have to be actively working on fucking the populace, but they all end up participating in it because no one is going to charge lower rent out of the goodness of their heart.
Isn't that an oxymoron? A landlord is by definition, an investor. Maybe you mean something else...