Renters Pushed to the 905
Hmm who’s to blame for this? Why don’t developers build purpose built apartment buildings? Instead they opt for condos. Could it be that the draconian rent controls imposed in rental apartments have discouraged new building? Since 1975, when rent controls were announced, the creation of new ‘market built’ apartment has hovered at zero.
What does responsible government do? In Ontario’s case, the government has created even more regulations to further guarantee no new apartment development. If you care about skyrocketing rents call your Liberal MP and tell them the need to create incentives to build, not disincentives. If this doesn’t change soon I guarantee its going to get much worse.
Renters pushed to the 905 as vacancies hit 16-year low: Report from The Toronto Star