Thursday, November 23, 2006

Rent Controls

With the boom in Alberta and housing shortages in Toronto renters are being soaked says Stats Canada.

Almost a third (31 per cent) of people who rented spent 30 per cent or more of their budgets on shelter compared with only six per cent of those who owned their homes, and most of them were living alone, relying on government assistance, or had low incomes. Traditionally, households that use 30 per cent or more of pre-tax income for housing costs are considered to face affordability problems.

Time for rent controls as an immediate solution.

Long term has to be land banking and building affordable housing. It is the only way to cool off a highly speculative market.

Housing in Canada should be a right.

Not a way to flip investments making spectacular profits which increase inflation and reduce access to affordable housing.



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