Rent controls in Alberta?

[LAndersen]

It looks like the NDP is looking at rent controls for Alberta.

http://m.metronews.ca/#/article/news/calgary/2016/03/14/alberta-ndp-take-aim-at-landlords.html

We will need to get active on this. We will need our collective voice behind this. We all know the long term effects this will create if it goes through.

 

[cnsmith]

Here's a good video on the topic:
https://www.prageru.com/courses/political-science/why-rent-control-hurts-renters

 

[LAndersen]

Thanks. This is exactly the problem.

 

[Matt Crowley]

It is very unlikely to move forward. We are in a supply crises right now, this will only make matters worse.

Secondly, the 2016 Liberal budget just came out with some very optimistic funding for affordable housing. Over $208 million over 5 years for new construction and $500 million available as low-cost debt financing each year for next 5 years. This will ease the provincial government from making a rash decision around something like this.

http://www.huffingtonpost.ca/ypnexthome/budget-2016-housing_b_9539532.html

2016 Liberal budget: http://www.budget.gc.ca/2016/docs/bb/brief-bref-en.html

 

[Thomas Beyer]

The NDP is not rational and as such I was surprised this was taken off the table last year. Every NDP led province has rent control.

 

[Sherilynn]

It would seem the main goals of any NDP are: take money from people who work hard for it and give it to people who don't, create as much bureaucracy as possible in order to try to justify their jobs, and tax the crap out of everyone in order to pay for the bureaucracy.

 

[Cory Sperle]

Welcome to Manitoba

 

[Cory Sperle]

The NDP was in in Saskatchewan from 1991 to 2007 and never introduced rent controls. I was active there from 2000 to 2007 (and now) and you could do an unlimited rent increase every 3 months.

 

[kfort]

They ran having that as part of their platform last time here in SK though Cory. Possibly the previous one too but my memory gets foggy that far back. I do remember thinking "yeah they really are desperate if they're pulling that out right now.." Just not sure how far back it was

 

[Matt Crowley]

Rents are down 10 - 15% right now in Alberta. This issue's timing is just not very good right now and likely will not see very strong constituent support.

Politics aside, the federal government has made a historic amount of money available for affordable housing. $500 million each year for the next 4 years, available in the earliest stages of development for shovel-ready / shovel-worthy projects is massive. $208 million for new construction is not a paltry amount either. The feds say they think this can create up to 4,000 new units which is around $52,000 funding per unit. Depending on the unit mixes this can start to make sense to have 20-year floating affordable unit mixes in buildings. Huge, huge opportunities for developers who can innovate and create mixed uses.

 

[LAndersen]

Rents are down 10 - 15% right now in Alberta. This issue's timing is just not very good right now and likely will not see very strong constituent support.

Politics aside, the federal government has made a historic amount of money available for affordable housing. $500 million each year for the next 4 years, available in the earliest stages of development for shovel-ready / shovel-worthy projects is massive. $208 million for new construction is not a paltry amount either. The feds say they think this can create up to 4,000 new units which is around $52,000 funding per unit. Depending on the unit mixes this can start to make sense to have 20-year floating affordable unit mixes in buildings. Huge, huge opportunities for developers who can innovate and create mixed uses.

Do you have more information on this? A website? Thanks.

 

[Matt Crowley]

Rents: Over 40,000 observations in Edmonton we have been tracking for a few years.

On the federal budget:

http://www.huffingtonpost.ca/ypnexthome/budget-2016-housing_b_9539532.html

2016 Liberal budget: http://www.budget.gc.ca/2016/docs/bb/brief-bref-en.html

 

[LAndersen]

Rents: Over 40,000 observations in Edmonton we have been tracking for a few years.

On the federal budget:

http://www.huffingtonpost.ca/ypnexthome/budget-2016-housing_b_9539532.html

2016 Liberal budget: http://www.budget.gc.ca/2016/docs/bb/brief-bref-en.html

Thank you.

 

[Vincent van der Ploeg]

I find it difficult to predict what the provincial government will do. Unlike the previous Conservative governments there's very little 'foreshadowing' of what's to come. You just wake up one day and they've tabled legislation. They also move fast. We all saw how quickly they rolled out Bill 6. Consultation, what's that?

You might say now's not the time for rent controls (is it ever?) but now's not the time for a minimum wage increase either. Maybe they can be excused for wanting to keep a campaign promise but it still shows a willingness to move forward regardless of economic conditions. Rent controls remain politically popular and three years is a long time. Even if a conservative party wins the next election there may be a reluctance to withdraw any rent controls imposed by the previous government.

 

[adriano]

I have never seen a government remove rent controls once they are put in. I also have never seen an NDP government do anything that was food for the people that work for it. They just give to social systems and expect the hard working people to pay for there stupidity . End of rant

 

[Matt Crowley]

@adriano Alberta had rent controls in the late 1970s and were transitioned out in 1980.