TorontoStoreys.com asked a couple of Toronto real estate agents, including Richard, about their wishlist for Christmas. The question was:
If you could ask for one thing in GTA real estate, what would it be?
So what does Richard want this year? It’s more about what he doesn’t want.
At a time when we need more rental properties to be built in the marketplace, the provincial government’s move to insert rent controls will stifle the building on new rental properties. I would hope that they would lift any restrictions on rent control. They have always caused more negative damage than positive change.
The government needs to streamline the building process so that more units can be built. More supply usually helps to smooth out the market in terms of price. Forget rent controls and encourage building … that will be more positive for the marketplace.
Rent controls and their potential impact on the market are a very hot topic in the city. We wrote about it in our of our recent articles, you can find it here.
Read the rest of TorontoStorey's article here.