[grainfedprairieboy]

Alberta's Tories are actually (No, really, April Fool's was last week) thinking about bringing in rent control (No, really, I'm serious!)

Ever wondered what I'm like in real life? About three weeks ago MLAs Dave Taylor and Bill Bonko hosted a forum on this commissions recommendations and I proceeded to forcedly explain why these actions would be considered a declaration of war on the people of Alberta if ever implemented. (Trust me, these Liberals will never forget me)

BTW, the commission is non partisan and there are more then a hundred recommendations. The Tories are only considering rent controls because they are obligated to consider all recommendations before picking a choosing the ones (if any) they wish to implement.

Anyway, here is the Bravado portion of what I told the commission:

Illegal: Alberta is the only province in Canada to legislate individual Property Rights and the law will never withstand an actual court challenge.

Insulting: I resent all you migrants from across Canada coming here in the first place tyring to force us to assimilate to your foreign values. ( I know it is not a fair snap shot since this was a Liberal hosted forum but only one other woman there was a natural Albertan with everyone else including Taylor a migrant.)

Here is the more reasonable part of my retort:

Rent controls hurt renters by limiting the supply of units. No one is interested in developing or buying rental units when any profit potential is fixed by a government.

Rent controls reduce the value of an investor’s property preventing him from selling for market rates.

Secondary suite restrictions in Alberta are the highest in Canada and maybe the world. Relaxing the rules would create the desired 10,000 affordable housing units almost overnight and these units would have a market driven downward impact on all rents. Further, infill lots in the inner cities are also restricted from developing affordable housing units.

Telling someone they cannot sell their units as a condo taking it off the rental market is nuts. It seems like a good idea on the outside but purchasing a townhome or condo is generally the way most young couples enter the housing market. If you lawfully ban this then home ownership and equity wealth creation will be put out of reach for most in the very demographic you think you're helping.

Supply and demand works for everything else so just let the market catch up.

[Stevenpfo]

You obviously know more about this than I do. My experience is from the past few months of trying to find a place to live. I would like to think i'm in the same situation as a decent amount of other Edmontonians.

Rent for a 2-3 bedroom apartment is around $1200 a month. When you're starting out in a career that's a lot of frigin money. Especially when you also have a car payment and a few kids to feed.

I'm not really complaining though because I know i'll just have to take whatever overtime will come my way or dip into my saving for the first year or two until my pay goes up and I can afford more. I wish I could afford to buy but the bank will only approve me for 150k right now. It could always be worse though, eh? I could be looking for an apartment 6 months from now without my current lease in affect or I could not have any savings.

[Clogeroo]

We have this here and it seems okay. I wouldn't want to move into a flat paying $600 then next year have to pay $1200. Not too many people’s wages increase 50% every year.

[Stevenpfo]

I don't think it's jumped $600 in the past year but I haven't been paying attention. I have been living in military housing for the past 4 years so i've been oblivious to it.

I do know my mother is a property manager here in Edmonton and said everyone expected mortgages to go up %15 this year. It's the beginning of April and they've already gone up %16.

[grainfedprairieboy]

Stevenpfo Stevenpfo:

You obviously know more about this than I do. My experience is from the past few months of trying to find a place to live. I would like to think i'm in the same situation as a decent amount of other Edmontonians.

Rent for a 2-3 bedroom apartment is around $1200 a month. When you're starting out in a career that's a lot of frigin money. Especially when you also have a car payment and a few kids to feed.

I'm not really complaining though because I know i'll just have to take whatever overtime will come my way or dip into my saving for the first year or two until my pay goes up and I can afford more. I wish I could afford to buy but the bank will only approve me for 150k right now. It could always be worse though, eh? I could be looking for an apartment 6 months from now without my current lease in affect or I could not have any savings.

You can still buy one and two bedroom condos downtown for under $100,000. You can buy with zero money down at TD bank and have a mortgage of under 400.00 while gaining both in equity and natural rising prices.

Need more room but can't afford it? Buy one of these condos and rent it for market rates then use the extra money to subsidse the larger rental unit you live in. Renter still pays mortgage and you are now on the road to building wealth.

[Clogeroo]

Well at least in the paper it says.

$1:

Looks as if Harvey Cenaiko, the Tory MLA who represents this city's Beltline and a lot of renters, has heard from the irate, seeing $900 a month rents go to $1,500 while other rentals rapidly turn condo.

I guess here it is 4% only of your rent can go up now unless more if justified. Property is still booming here so I'm not sure how much this has hurt it. Most rent for a three bedroom flat is minimum $1000/m most average $1300/m. I only pay $600 for a one bedroom and have been here for a couple years but I'm lucky that way they haven't put up the rent yet. Most average $700 now. Downtown probably much higher. My friend I think pays $700 but they raised it to $750 but he refused to pay for it because they were renovating suites and nothing was done in his so keeps paying his $700.

[Clogeroo]

$1:

You can still buy one and two bedroom condos downtown for under $100,000. You can buy with zero money down at TD bank and have a mortgage of under 400.00 while gaining both in equity and natural rising prices.

Wow that is cheap. Most condo in Vancouver are average $300,000.

[Stevenpfo]

From what i've seen looking for things in Edmonton within my price range (150k). Most of the places were downtown (as you mentioned). They were also mostly 1 bedroom or two. But they were 600-700 sq feet. Call me greedy but that's not enough for a family of four.

I picked the West end because it's close to family and gives me easy access to a lot more jobs via main roads around Edmonton. Plus I don't know much about buying and those places downtown for cheap seem like shite.

[grainfedprairieboy]

Stevenpfo Stevenpfo:

From what i've seen looking for things in Edmonton within my price range (150k). Most of the places were downtown (as you mentioned). They were also mostly 1 bedroom or two. But they were 600-700 sq feet. Call me greedy but that's not enough for a family of four.

I picked the West end because it's close to family and gives me easy access to a lot more jobs via main roads around Edmonton. Plus I don't know much about buying and those places downtown for cheap seem like shite.

You've gotta start somewhere.

[Stevenpfo]

Yup, you're right. My plan is to just rent for the first year and work my ass off in a trade. With my car paid off, savings and hitting my second year as an apprentice I figured it'd be a better time to buy somewhere better than downtown.

[SideShowCecil]

Yes it’s tough for anybody looking for an affordable place to live around here. I don’t think rent controls are the answer though.

I remember looking for a decent place to rent in Ottawa fifteen years ago. The rental market was heavily regulated then. Rents were cheap but the apartments were TERRIBLE. A few crooked slumlords controlled most of the city; my step brother was one of them. Even some of the downtown high-rises that were the swankiest digs in town through the seventies were pretty scummy and run down by then.

[grainfedprairieboy]

SideShowCecil SideShowCecil:

Yes it’s tough for anybody looking for an affordable place to live around here. I don’t think rent controls are the answer though.

I remember looking for a decent place to rent in Ottawa fifteen years ago. The rental market was heavily regulated then. Rents were cheap but the apartments were TERRIBLE. A few crooked slumlords controlled most of the city; my step brother was one of them. Even some of the downtown high-rises that were the swankiest digs in town through the seventies were pretty scummy and run down by then.

Right you are. If there is no incentive to command a higher rate or compete with other landlords that profits are realised in part through steadily deteriorating conditions.

[Stevenpfo]

Did they hard cap the rent in Ottawa or limit the amount they could raise the rent?

Rent caps don't seem like the be-all end-all of answers to this so what could actually be done to fix the problem then?

[Banff]

grainfedprairieboy grainfedprairieboy:

Stevenpfo Stevenpfo:

You obviously know more about this than I do. My experience is from the past few months of trying to find a place to live. I would like to think i'm in the same situation as a decent amount of other Edmontonians.

Rent for a 2-3 bedroom apartment is around $1200 a month. When you're starting out in a career that's a lot of frigin money. Especially when you also have a car payment and a few kids to feed.

I'm not really complaining though because I know i'll just have to take whatever overtime will come my way or dip into my saving for the first year or two until my pay goes up and I can afford more. I wish I could afford to buy but the bank will only approve me for 150k right now. It could always be worse though, eh? I could be looking for an apartment 6 months from now without my current lease in affect or I could not have any savings.

You can still buy one and two bedroom condos downtown for under $100,000. You can buy with zero money down at TD bank and have a mortgage of under 400.00 while gaining both in equity and natural rising prices.

Need more room but can't afford it? Buy one of these condos and rent it for market rates then use the extra money to subsidse the larger rental unit you live in. Renter still pays mortgage and you are now on the road to building wealth.

thats hilarious . How many people do actually think believe you . Read the fine print there GFPB sheeeeeeeesh

[grainfedprairieboy]

Banff Banff:

thats hilarious . How many people do actually think believe you . Read the fine print there GFPB sheeeeeeeesh

Do tell.