Deepening rental housing crisis in Toronto

[Dejavu]

http://wellesleyinstitute.com/confirmed-deepening-rental-housing-crisis-canada-ontario-toronto

This article is written from the renters` perspective, hence its all doom and gloom, but is good news for investors/landlords.



Dec 11th, 2008 by Michael Shapcott

http://http://www.cmhc-schl.gc.ca/Canada Mortgage and Housing Corporation has confirmed this morning what Canada`s 3.9 million renter households already know: Private rental housing has slipped into a much deeper crisis. The national rental vacancy rate has dropped by a staggering 15% over the past year down to a critically low 2.2% - the lowest level in six years.....

 

[Thomas Beyer]

A somewhat misleading article .. as there are condos APLENTY in Toronto and elsewhere .. they are just expensive to rent !

The key issue is an expectation that "the government" has to solve the problem.

Why are there no

a) rental subsidy programs on a large scale to subsidize market rents so that below average wage earners can rent ?
b) tax incentives for builders to build low cost housing ?
c) relaxation of building codes so building is cheaper ?
d) subsidies for landlords to take in AISH or low-income or handicapped tenants that can`t afford market rents ?
e) allowances for families with 2 or more kids to get cash or rental subsidies, say $600 per child per month ? (no wonder we have such a low birth rate !!!)