Would it be safe to say that shelter is a fundamental right?
Furthermore, their findings revealed one in five property owners to be investors, defined as an owner who owns at least one residential property not used as their primary place of residence.Article content
But how might one reconcile that take with the reality that Canada basically stopped incentivizing the construction of purpose-built rental housing back in the 70s? Our population has ballooned yet new rental housing has stagnated. While the religion of home ownership dominates in this country, the ethos is markedly different elsewhere, particularly in many European countries where government-funded purpose-built rental housing is plentiful. The result is stability for tenants, who never need to worry about having their home sold out from under them or rents abruptly skyrocketing.
It is very clear our leaders know how vital the role an individual investor plays in ensuring supply, which is why in 2018 rent control was deregulated to ensure profitability and viability. If it wasn’t profitable for investors to own rental properties, investors would take their capital elsewhere and supply would diminish. We need them.Article content
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