Real Estate

The Ford government removed rent control on new units. A year later tenants are reporting double-digit increases

  • Last Updated:
  • Nov 26th, 2019 12:07 am
Deal Fanatic
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Sep 8, 2007
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Way Out of GTA
The Toronto Star eh? A company that can’t manage its own finances lecturing everyone else.....
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"It is in times of great fear or greed that the most opportunity exists."
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Sep 8, 2007
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Way Out of GTA
Luckyinfil wrote: Love the fear monger if. It’s the same in 2007 in the us just before the collapse.

“Buy now or forever be prices out”
“It’s different here this time”
Lol, it’s just so tired “but but but 2008, credit crisis, Black Friday”.... it’s no wonder Gluskin finally got rid of David Rosenberg. Your pied piper...
"It is in times of great fear or greed that the most opportunity exists."
Sr. Member
Jul 8, 2017
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Luckyinfil wrote: Love the fear monger if. It’s the same in 2007 in the us just before the collapse.

“Buy now or forever be prices out”
“It’s different here this time”
There is certainly a difference between the "Buy now or forever price out" VS "Was able to buy before but missed the boat due to their own idiocy", and judging by your posts we all know which group of people you belong to.
[OP]
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Feb 22, 2011
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Toronto
Luckyinfil wrote: Love the fear monger if. It’s the same in 2007 in the us just before the collapse.

“Buy now or forever be prices out”
“It’s different here this time”
The same as 2007 you say?

Hmm let's see. Condo price in Toronto October 2007 was $251k and October 2019 was $662k.

Yea I think those who said buy now or be priced out forever were right.............................................................
[OP]
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Feb 22, 2011
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cartfan123 wrote: The Toronto Star eh? A company that can’t manage its own finances lecturing everyone else.....
Tor star stock price 2004: $30.61

Tor star stock price 2019: $0.50

It's only down 98.4% from it's peak lol.
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mazerbeaner wrote: Tor star stock price 2004: $30.61

Tor star stock price 2019: $0.50

It's only down 98.4% from it's peak lol.
Must be those greedy landlords not subscribing.
"It is in times of great fear or greed that the most opportunity exists."
Deal Guru
Feb 29, 2008
10921 posts
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I’m absolutely shocked the Star would print such a story. Rent control in a growing city that has a housing crisis is asinine. Supply has decreased but demand has not. Rent control made it easy for tenants to lock in for the long haul and not move. What did people think that would do?
Deal Addict
Dec 4, 2016
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With how poorly Ford is polling, rent control will be re-imposed within the next 5 years.
Deal Guru
Feb 29, 2008
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BlueSolstice wrote: With how poorly Ford is polling, rent control will be re-imposed within the next 5 years.
It's a given and it will be even worse than it is now. Landlords better charge to the moon...seems like some are doing that now.
Penalty Box
Aug 11, 2005
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It’s going to be great when Ford is booted and rent control is rolled back. All those investors who paid a premium for non rental controlled units will immediate see their value drop significantly.
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[OP]
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Feb 22, 2011
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BlueSolstice wrote: With how poorly Ford is polling, rent control will be re-imposed within the next 5 years.
Doubt it, Wynne did it and increasing min wage 30% as an act of desperation. It then led to the worst result in party history, literally the worst result for OLP ever. They won't be so stupid again for another 10 years at least.
[OP]
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Feb 22, 2011
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Luckyinfil wrote: It’s going to be great when Ford is booted and rent control is rolled back. All those investors who paid a premium for non rental controlled units will immediate see their value drop significantly.
Last time they went so socialist they lost party status, worst result in history. As dense as they are I think they will probably not go full NDP again, no one goes full NDP.
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Oct 30, 2019
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BlueSolstice wrote: With how poorly Ford is polling, rent control will be re-imposed within the next 5 years.
This would be a disaster for future supply of beds in Toronto. Purpose-built rentals will be canceled or sold as condos and would slow down residential investment. The mindless left always finds a way of shooting themselves in the foot.
Deal Guru
Feb 29, 2008
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mazerbeaner wrote: Doubt it, Wynne did it and increasing min wage 30% as an act of desperation. It then led to the worst result in party history, literally the worst result for OLP ever. They won't be so stupid again for another 10 years at least.
Why are you so sure? Remember, there are plenty of people just likd Lucky who feel rent controls were a success. Face With Tears Of Joy They're too stupid to realize rent is way up and rolling back rent control will just push rent higher. It's not even about logic right now, it's about "sticking it to landlords". How well has that worked? Key to lower rents is doing away with rent control and increasing supply. Only on Mars does reducing supply = lower rents.

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