According to a new report from Rentals, In July, the Canadian rental market hit a record high with an average asking rent of $2,078, marking an 8.9 per cent annual increase.

  • Pxtl@lemmy.ca
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    1 year ago

    So what happens to a rental highrise in your policy idea?

    • Hyacathusarullistad@kbin.social
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      1 year ago

      Rental highrises are not single-family homes. What we need there are more stringent rent control and to move the majority of such rentals from for-profit property developers to non-profit housing cooperatives.

      We could also prohibit property developers from purchasing highrises from each other altogether. You want a new high-rise? Build one. You don’t want one of the ones you own? You get to sell it to a cooperative for a heavily regulated maximum price, and might get to break even.