Recent government regulation hurting rental market, report says (September 26, 2017)

Recent government regulation hurting rental market, report says -> LINK

Although rent control appears to be here to stay, a new report proposes meeting halfway with a rolling exemption of 10 to 15 years, before reintroducing rent control for the same period of time, and then scaling it back again.

 

The Federation of Rental-Housing Providers of Ontario (FRPO) and Urbanation joint report shed light on some of the pressures placed upon the rental market that’s resulting in short supply and high demand, and posits that, unless rectified, renting could be rendered as unaffordable as owning.

It also warns there’s an annual 6,250-unit shortfall, which is exacerbated by the absence of new purpose-built rental buildings, and that most of the new rental stock on the market are impermanent secondary units in condominiums proffered by investors.

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The report shows that savings and investments amongst Canadian households have steadily improved, resulting in an overall net worth increase of 12 per cent across the country to $770,635.

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