Quote:
Originally Posted by Traum
The reality is -- society needs landlords because not everyone can afford to or wants to be home owners. When the gov isn't willing to step in to take on that landlord role, you can only rely on the private sector to fill that gap.
But the private sector only responds to (financial) incentives. When there are no incentives to pursue landlordship -- the current GICs offer a far better return than renting without any of the hassle -- the private sector will not jump in. So where do you get the rental supply that society needs?
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Sorry but we do not need a social safety net for people holding secondary properties. If enough people truly do need to sell their secondary units because they can't afford to rent them out, then that's a net positive as more units return to the market and prices reduce. Win Win.