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Originally Posted by Traum
Steering this back towards real estate issues -- what is RS' take on the recently proposed changes to rent hike formula so that the max rate hike can only be tied to the rate of inflation?
IMO, those people on the BC Rental Housing Taskforce -- Vancouver-West End MLA Spencer Chandra Herbert (who also serves as the Premier’s Advisor on Residential Tenancy), MLAs Adam Olsen and Ronna-Rae Leonard -- are idiots. Put that rate hike limit in place, and watch how the supply of rental properties dry up even more.
I am also surprised by how many people among the general public can't see that these changes will only lead to reduce rental supply.
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It's already gone, rent hikes are like irrelevant, 2/3/4%
the people who are already paying 1800 for a 1br can probably absorb the increase, the people on the fringes who are dealing with rental companies and landlords that are taking advantage of the yearly increases are fucked. They were already fucked before this new standard. It's not sustainable for people who are living cheque to cheque to try and live in situations like that regardless of the increase.