Quote:
Originally Posted by GenWhy?
I don't think anyone (besides maybe anti-capitalists) is saying rent control (as we have it here) alone is the solution to our housing crisis.
We've had "rent control" here for decades and we've never built more rental housing recently since the early 80s. Rents in the 70s were being jacked up between 10-20% before controls were put in place.
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The relationship between the approved annual rent increase for existing tenants ("rent control") and developers choosing to build more rental units is pretty much non-existent. For one thing, the rent increase percentage doesn't apply to units that become available when a tenant leaves and the unit is re-leased, and for another it doesn't apply to the first rents charged on new units.
Here's Metro Vancouver purpose-built rental starts (CMHC data) for the same period
2022 5,020 (7 months)
2021 6,120
2020 5,707
2019 6,727
2018 6,425
2017 4,591
2016 6,841
2015 3,810
2014 3,286
2013 3,149
2012 1,277
2011 1,755
2010 1,054
2009 447
2008 748
2007 615
2006 509
2005 586
2004 746