this post was submitted on 12 Sep 2023
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A reminder: rent is the purest form of supply/demand in the housing market. Nobody rents multiple units to sit on them the way people do to buy them. If prices are going up, that means vacancy is low and there just aren't enough units to rent compared to the number of people who are looking for a unit. Landlords hiking prices are hiking prices because somebody will pay that higher price.
The solution has to involve either building a crapload more units, or having less people who need housing (as always, Malthusians are invited to go first). Anybody who is proposing other approaches to this problem is either a con-man or an idiot. You cannot redistribute your way out of a shortage.
There are more empty buildings than homeless people. There are "investment properties" sitting empty all over.
The problem is the greed of the parasitic landlord class.
This is a myth. What "empty building" studies usually cover is buildings that have no usual occupant. That includes things like student houses where the occupants still have a "home address".
30% of Canadians are domestic speculators. This isn't a myth, it's a fact.
Not arguing there, but GP was saying that a horrendous number of units are vacant which is simply not true. And there are a few cases where being a landlord isn't hoarding housing away from potential buyers, like in a University neighborhood where students and temporary staff will need access to rental houses. Now, obviously, student housing would be better handled by purpose-built multi-unit rental buildings but city hall says no.