SunriseChampion
Senior Member
It's already worse on my floor, apparently. Next door with that pensioner and a family of five that is unrelated to him actually. It's friggin weird.
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Toronto Rental Cost (& AirBnB) Issues
- Thread starter jje1000
- Start date
It's already worse on my floor, apparently. Next door with that pensioner and a family of five that is unrelated to him actually. It's friggin weird.
Northern Light
Superstar
Developers and Landlords will need to find creative solutions, doubtless involving the state in some way; or one will be made for them.
Over in the OL thread, we were discussing relative costs in Berlin, briefly.
Rents there are below ours, but like ours have been rising well ahead of CPI inflation in recent years, and in that city 85% are renters.......its a very real problem.
Berlin is set to impose an absolute rent freeze; for the next 5 years!!!!! Pressure is mounting to seriously consider nationalizing every single apartment building..............
www.nytimes.com
A lesson for those doing well in society, it is in your interest to ensure the majority are on the same ride.................
Over in the OL thread, we were discussing relative costs in Berlin, briefly.
Rents there are below ours, but like ours have been rising well ahead of CPI inflation in recent years, and in that city 85% are renters.......its a very real problem.
Berlin is set to impose an absolute rent freeze; for the next 5 years!!!!! Pressure is mounting to seriously consider nationalizing every single apartment building..............
Berlin Freezes Rents for 5 Years in a Bid to Slow Gentrification (Published 2020)
The move, in a capital once known for its artists and its party scene, aims to reverse a trend that is driving out older and lower-income residents.
A lesson for those doing well in society, it is in your interest to ensure the majority are on the same ride.................
SunriseChampion
Senior Member
Ah, greed is a malignant little bastard, eh?
TheKingEast
Senior Member
Developers and Landlords will need to find creative solutions, doubtless involving the state in some way; or one will be made for them.
Over in the OL thread, we were discussing relative costs in Berlin, briefly.
Rents there are below ours, but like ours have been rising well ahead of CPI inflation in recent years, and in that city 85% are renters.......its a very real problem.
Berlin is set to impose an absolute rent freeze; for the next 5 years!!!!! Pressure is mounting to seriously consider nationalizing every single apartment building..............
Berlin Freezes Rents for 5 Years in a Bid to Slow Gentrification (Published 2020)
The move, in a capital once known for its artists and its party scene, aims to reverse a trend that is driving out older and lower-income residents.
A lesson for those doing well in society, it is in your interest to ensure the majority are on the same ride.................
I think that would make sense in a city that has 85% renters. But renters make up like 30% in Toronto. A rent freeze across the board would be silly IMO.
Northern Light
Superstar
According to this City of Toronto document, 51% of Torontonians rent.
Second, I wasn't advocating for that particular action.
I was pointing out that with homelessness here growing by 2,000+ per year; the situation will reach a breaking point, and a solution will be imposed.
Better for developers/landlords/governments to get to the table w/remedies now, and have some influence and allow a thoughtful series of changes; rather than wait for desperation to drive more radical and perhaps less considered change.
Jasmine18
Senior Member
Issue is if you freeze rent there is no incentive for anyone to rent out their place.
As a result illegal rentals skyrocket.
As a result illegal rentals skyrocket.
jje1000
Senior Member
/https://www.thestar.com/content/dam/thestar/news/gta/2020/02/20/if-entire-home-airbnbs-went-back-on-the-rental-market-toronto-could-near-a-healthy-vacancy-rate-fairbnb-report-says/airbnb.jpg)
If entire-home Airbnbs went back on the rental market Toronto could near a ‘healthy’ vacancy rate, Fairbnb report says
The report estimates more than 7,300 entire-home listings could become available for long-term renters.
Another parallel development- the rise of suburban rooming houses:
Scarborough needs rooming houses, but they must be legal, advocates say
THE ISSUE: ILLEGAL ROOMING HOUSES LOCAL IMPACT: ADVOCATES SAY LEGALIZATION IS THE ONLY WAY TO PROVIDE SAFE, AFFORDABLE HOUSING.
www.toronto.com
LEVY: Mayor urges seniors to rent their homes for extra bucks
Mayor John Tory, appearing on a paid real estate infomercial on his old radio station Sunday, said that baby boomers have to “open their minds” to the idea of creat…
torontosun.com
Honestly I don't see this as inherently bad but a necessary secondary evolution of the first-wave of the single-inhabitant built form, which is ill-suited to face an aging demographic (like a senior becoming too small for their clothes).
Legalize and regulate multiple units and rooming houses to ensure that they're safe, and watch as the existing built form is filled out and reinhabited once more. Then allow certain well-serviced/accessible suburban areas to be under right-to-build rules, and watch as the suburbs are instantly densified by their owners. Power is instantly returned to the small owner-developer, who can respond to market demand far better than the large multi-year developments.
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christiesplits
Senior Member
Coronavirus likely having an impact on the local Airbnb market.
Midtown Urbanist
Superstar
I enjoyed the reply below:
"If only there were some way they could secure a long-term agreement to let a consistent, non-transient group of people live in these spaces in exchange for some sort of set monthly fee; a "rent" if you will. "
Northern Light
Superstar
Interesting move in New York State; an order to halt all evictions.
ny.curbed.com
Other U.S. jurisdictions seem to be making similar moves.
New York halts evictions due to coronavirus pandemic
A suspension on court eviction proceedings took effect on Tuesday. Gov. Cuomo strengthened that edict with a 90-day eviction moratorium on Friday.
ny.curbed.com
Other U.S. jurisdictions seem to be making similar moves.
CityStay
Active Member
I only hope that this virus takes the money-for-nothing, Airbnb specuinvestors down. Get a real job, parasites. Your illegal 'hotels' are no longer profitable. Put the housing back on the market for people who need a place to live. Losers. I hope that all these amateurs (and hedge funds/ REITS are financially wiped out.
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Richard White
Senior Member
I know a few STR hosts who are s****ing the bed knowing that their business and sole source of income may go tits up in the next few weeks while owners look at other options for their units.
CityStay
Active Member
When your business plan is based on an app..
AlvinofDiaspar
Moderator
Richard White
Senior Member
Haa yep.
The concern is that without STR bookings the owners cannot pay their mortgage. In some cases they have multiple units at 1000 dollars minimum a month for the mortgage I can foresee some quick sales or bankruptcies in the future.