Real Estate

Toronto rent is skyrocketing

  • Last Updated:
  • Feb 18th, 2018 7:13 pm
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Penalty Box
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Aug 11, 2005
3638 posts
1009 upvotes
Applesmack wrote:
Feb 13th, 2018 10:59 am
Thats a fantastic idea that many of your precious 'vulnerable' people in Toronto should consider. Unfortunately though moving to another province will not give you free electricity it will only change the price of electricity to higher or lower. Hey that almost sounds like real estate doesn't it? Moving changes price of housing to either higher or lower. WOW
Exactly. That's why it's in the bset interest of everyone to have the government place more laws on real estate to discourage the abusive landlords. This is also why there are regulations in place that prevent electricity prices from being jacked up 10x a year
[OP]
Sr. Member
Dec 23, 2010
940 posts
382 upvotes
Moon
Luckyinfil wrote:
Feb 13th, 2018 11:01 am
Exactly. That's why it's in the bset interest of everyone to have the government place more laws on real estate to discourage the abusive landlords. This is also why there are regulations in place that prevent electricity prices from being jacked up 10x a year
Lol there is regulations like this for literally every product that you can buy. For instance I can't jack up prices by 10% then declare a 50% off sale. You are making a non-argument.
Penalty Box
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Aug 11, 2005
3638 posts
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Applesmack wrote:
Feb 13th, 2018 11:10 am
Lol there is regulations like this for literally every product that you can buy. For instance I can't jack up prices by 10% then declare a 50% off sale. You are making a non-argument.
Yes that is to protect the consumer. That's why there should be more laws surrounding real estate rentals to protect the renters.
[OP]
Sr. Member
Dec 23, 2010
940 posts
382 upvotes
Moon
Luckyinfil wrote:
Feb 13th, 2018 11:14 am
Yes that is to protect the consumer. That's why there should be more laws surrounding real estate rentals to protect the renters.
Nobody is against reasonable protection for renters. Of course those protections have to be carefully balanced with the ability of a landlord to do business. Certain regulations will have the exact opposite affect of what they are intended to do. Economists warned the clown liberal government that rent control will cause massive increases in rent prices and that is exactly what happened. Wynne is a politician that tries to pander to certain groups of voters even when it is against those very voters best interest.
Penalty Box
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Aug 11, 2005
3638 posts
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Applesmack wrote:
Feb 13th, 2018 11:16 am
Nobody is against reasonable protection for renters. Of course those protections have to be carefully balanced with the ability of a landlord to do business. Certain regulations will have the exact opposite affect of what they are intended to do. Economists warned the clown liberal government that rent control will cause massive increases in rent prices and that is exactly what happened. Wynne is a politician that tries to pander to certain groups of voters even when it is against those very voters best interest.
That's why the wynne government should expand rent controls even further. Landlords are clearly utilizing a loophole that is not in the spirit of the original regulation to raise prices.

Imagine if there was a loophole that would allow hydro one to jack up prices in the form of some "recovery fee" (or whatever you would call it). People would be outraged.
[OP]
Sr. Member
Dec 23, 2010
940 posts
382 upvotes
Moon
Luckyinfil wrote:
Feb 13th, 2018 11:19 am
That's why the wynne government should expand rent controls even further. Landlords are clearly utilizing a loophole that is not in the spirit of the original regulation to raise prices.

Imagine if there was a loophole that would allow hydro one to jack up prices in the form of some "recovery fee" (or whatever you would call it). People would be outraged.
People have the right to set whatever price they want for others to use THEIR property in a free country. Wynne is free to attempt to mandate price fixing if she wishes and watch the disastrous shit show that will result and has ALWAYS resulted from such policies. Wynne should mandate that food cost no more than $1 and housing rent prices above $100 are not legal. Also wait times in healthcare should be illegal and if patients are forced to wait at the clinic doctors should be jailed. Also minimum wage needs to be $1000 an hour. VIVA THE PEOPLE
Penalty Box
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Aug 11, 2005
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Applesmack wrote:
Feb 13th, 2018 11:22 am
People have the right to set whatever price they want for others to use THEIR property in a free country. Wynne is free to attempt to mandate price fixing if she wishes and watch the disastrous shit show that will result and has ALWAYS resulted from such policies. Wynne should mandate that food cost no more than $1 and housing rent prices above $100 are not legal. Also wait times in healthcare should be illegal and if patients are forced to wait at the clinic doctors should be jailed. Also minimum wage needs to be $1000 an hour. VIVA THE PEOPLE
So what makes it okay to control prices on hydro when it is owned in part by rich people? They should be able to jack up the prices however much they want!

Good thing essentials in canada are regulated, we take care of one another in canada.
[OP]
Sr. Member
Dec 23, 2010
940 posts
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Moon
Luckyinfil wrote:
Feb 13th, 2018 11:30 am
So what makes it okay to control prices on hydro when it is owned in part by rich people? They should be able to jack up the prices however much they want!

Good thing essentials in canada are regulated, we take care of one another in canada.
it is owned IN PART by rich people and their profit needs are fully considered. Why do you think government has to pay to subsidize the very high hydro price increases?
Sr. Member
Sep 14, 2007
701 posts
159 upvotes
I like how the discussion has turned into government intervention and the balance between socialism vs communism. Really contrasts economic and RE analysis with people's beliefs about how a country should be run.
infil, you have a great point about hydro being privatized, prices jacked up and people would throw a fit. Housing isn't out of reach if you choose condos or locations further from Toronto. Even in communist countries (Former Soviet, North Korea, China), they all realized their system doesn't work because everybody will just be lazy. China now is hybrid with government controlling certain things (banks, policies, infrastructure, information etc.) while other things are a free market (real estate). In every country there are the richer and poorer, that system works because people need to strive to work harder for a better life (because somebody out there lives in a bigger house, drives a nicer car etc.) There's too much entitlement about being able to afford a detached house in Toronto, a condo is still affordable for most families, and in many countries in the world, it's common and accepted to raise a family in a condo. It isn't "unfair" to the people. If Canada was in a state where most citizens couldn't afford basic shelter, but the top 1% controlled all real estate, I could see the cause of government intervention, but that's not where we are. You could make the claim that's where we are headed, but you know the government isn't looking to solve a problem we don't have yet cause they have plenty of their own to deal with now.
Penalty Box
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Aug 11, 2005
3638 posts
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Applesmack wrote:
Feb 13th, 2018 11:31 am
it is owned IN PART by rich people and their profit needs are fully considered. Why do you think government has to pay to subsidize the very high hydro price increases?
And the profit needs of landlords are considered as well through the allowed rent increase. What's not okay is landlords getting around that by kicking tenants out as that defeats the spirit of the initial regulation. That needs to change and i'm sure the wynne government will do that with another majority.
Deal Addict
May 12, 2014
1066 posts
544 upvotes
Montreal
Luckyinfil wrote:
Feb 13th, 2018 11:01 am
Exactly. That's why it's in the bset interest of everyone to have the government place more laws on real estate to discourage the abusive landlords. This is also why there are regulations in place that prevent electricity prices from being jacked up 10x a year
The reason that Ontario pays so much for its electricity, and is projected to pay even more in years to come, is due to government mismanagement and poor regulations. It's weird that you're holding up electricity regulation as some sort of good example, when it's in fact an example of government making a hash of things.
Penalty Box
User avatar
Aug 11, 2005
3638 posts
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stryder1587 wrote:
Feb 13th, 2018 11:37 am
I like how the discussion has turned into government intervention and the balance between socialism vs communism. Really contrasts economic and RE analysis with people's beliefs about how a country should be run.
infil, you have a great point about hydro being privatized, prices jacked up and people would throw a fit. Housing isn't out of reach if you choose condos or locations further from Toronto. Even in communist countries (Former Soviet, North Korea, China), they all realized their system doesn't work because everybody will just be lazy. China now is hybrid with government controlling certain things (banks, policies, infrastructure, information etc.) while other things are a free market (real estate). In every country there are the richer and poorer, that system works because people need to strive to work harder for a better life (because somebody out there lives in a bigger house, drives a nicer car etc.) There's too much entitlement about being able to afford a detached house in Toronto, a condo is still affordable for most families, and in many countries in the world, it's common and accepted to raise a family in a condo. It isn't "unfair" to the people. If Canada was in a state where most citizens couldn't afford basic shelter, but the top 1% controlled all real estate, I could see the cause of government intervention, but that's not where we are. You could make the claim that's where we are headed, but you know the government isn't looking to solve a problem we don't have yet cause they have plenty of their own to deal with now.
I don't think anyone is disagreeing with the fact that there should be a free market, the point in contention is a free market for basic essentials needed to live. There's a reason why water rates, hydro rates, etc are all regulated. Real estate is no exception.
Deal Addict
Oct 29, 2010
4140 posts
569 upvotes
Luckyinfil wrote:
Feb 13th, 2018 11:43 am
I don't think anyone is disagreeing with the fact that there should be a free market, the point in contention is a free market for basic essentials needed to live. There's a reason why water rates, hydro rates, etc are all regulated. Real estate is no exception.
I could be wrong but I believe that if government completely stayed out of the electricity game it would have been a lot cheaper than it is now...
When half our bill goes to government employees pensions even if we didn't use anything, clearly those "regulations" are worthless.

Let's jack up the prices and then borrow money to give people a "relief", that's just bad business.
[OP]
Sr. Member
Dec 23, 2010
940 posts
382 upvotes
Moon
Luckyinfil wrote:
Feb 13th, 2018 11:39 am
And the profit needs of landlords are considered as well through the allowed rent increase. What's not okay is landlords getting around that by kicking tenants out as that defeats the spirit of the initial regulation. That needs to change and i'm sure the wynne government will do that with another majority.
Landlords are not allowed to kick tenants out for no reason or simply to jack up the rents. Landlords are allowed to kick tenants out for personal use to live in their own property or if they are behaving in bad faith and harmful to the landlord's business. Fact is though your rent control subsidizes rent for existing tenants while making Toronto unaffordable for any future tenant due to the increased risk it has introduced. Such regulation. MUCH WOW
Deal Addict
Feb 22, 2011
2604 posts
2391 upvotes
Toronto
Applesmack wrote:
Feb 13th, 2018 11:56 am
Landlords are not allowed to kick tenants out for no reason or simply to jack up the rents. Landlords are allowed to kick tenants out for personal use to live in their own property or if they are behaving in bad faith and harmful to the landlord's business. Fact is though your rent control subsidizes rent for existing tenants while making Toronto unaffordable for any future tenant due to the increased risk it has introduced. Such regulation. MUCH WOW
Back to the discussion at hand. Rent is increasing and this is exactly why.

Everyone is going on about landlords and tenants and no one wants to face the facts. Rent is going up. A lot.

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