Quote:
Originally Posted by underscore
Investments come with risk, if people are choosing to buy a rental property as an investment then they're choosing to take on the risk of losing money from it. None of this capitalism for their gains and socialism for their losses to protect those poor, innocent landlords b/s.
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Yes, investments come with risk, but at least with the residential rental market, many of the "risks" are created by the gov.
With the way the RTA is spelled out, everything is heavily tilted in favour of the tenants -- ie. it is already very much a socialist system. And despite that already socialist leaning, the provincial gov continues to make the power balance more in favour of the tenants, so the market responds accordingly to reach the equilibrium point that we are at right now -- rental supply is scarce, cost of rent is high, and nobody is happy.
Essentially, it is the gov asking for a capitalistic outcome -- ie. rental housing provided by the private sector -- while adopting an evermore socialist policy to protect the renters at the expense of the private sector suppliers. It is the gov trying to have his cake and eat it too. It cannot work that way.
It also goes back to a point I've made earlier -- if the gov wants to offer a socialist solution to the housing problem, they need to step in to provide public housing on a meaningful scale. Continuing to squeeze the private sector for solutions is not going to work because there isn't very much to give anymore.