this post was submitted on 29 May 2024
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Trudeau says housing needs to retain its value (www.theglobeandmail.com)
submitted 5 months ago by [email protected] to c/[email protected]
67 comments fedilink hide all child comments
 

In case anyone still wants to somehow debate whether the Liberals will deliver affordable housing.

“Housing needs to retain its value,” Mr. Trudeau told The Globe and Mail’s City Space podcast. “It’s a huge part of people’s potential for retirement and future nest egg.”

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[–] [email protected] 3 points 5 months ago (1 children)

I think a rent cap could be a good way. It could be raised wrt to inflation. Then, government housing, better loan systems for non profit and maximize density to allow building taller rather than wider (making land cost minimal), but not tall enough that would create increased cost (elevators are expensive to maintain for example). A lot of initiatives need to be put in place, but one that could be effective is to lower costs of construction and find ways to increase productivity by improving resource management

[–] [email protected] 2 points 5 months ago* (last edited 5 months ago) (1 children)

The thought of an across-the-board regulation based rent cap never crossed my mind, but that actually could be effective and fair. If there was some kind of easy to understand formula based on the unit, potential landlords would easily be able to calculate whether it makes financial sense instead of simply cutting costs and squeezing as much rent out as possible. There wouldn't be an incentive to kick people out (can't jack the rent) but there would be one to keep it maintained/updated since they'd be competing on everything but price. Honestly, I wouldn't mind if my rent went up a bit if it meant my unit would be properly maintained or I had the freedom to move somewhere similar without doubling my rent.

Edit: you could make it more enticing to the current landlords by easing some renter protections, like making it much easier to remove problem tenants

[–] [email protected] 1 points 5 months ago

Yeah problematic tenants are an issue, especially when the landlords are elderly folks whose alternative would be to seek professional management or sell it to REITs, both of which exacerbate the issue of rent price.