Quote:
Originally Posted by Good Baklava
It wasn’t that the landlords were crooks, it was just that the value of their land radically shifted and there’s no way long-time tenants could have avoided that.
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And renting is generally a contract to live in an apartment for the period of the lease, typically 1 month or 1 year. The tenants are not entitled to live there affordably indefinitely and that is not reasonable in a city that is growing, where an apartment might actually be much more desirable after a 10 or 20 year period; effectively a completely different offering which may also then not be a good fit for what the tenant wants. Easy mobility and the ability to match families and individuals to different types of housing over time is one of the big benefits of renting. If you're a student you move near a university, if you're a busy professional you move near work, if you're a senior you can save money by living farther away from employment nodes you don't need to commute to every day.
The wider question is whether there's ANY affordable housing for some people in the metro area and this depends on unit costs, incomes, and transportation options, plus there are other options like housing vouchers which allow low income people to afford more expensive housing. It's also good to get people on the home ownership ladder which has been done with some affordable housing projects but only seems to happen at a boutique scale in Halifax while thousands of people would benefit from such programs.
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