Vancouver Sun- B.C. NDP explains why $2B housing affordability program was not about, er, delivering affordable housing
“The units are, in fact, at the high end of the current market rate, according to the recent rental rates on the building website,” reported Kerry Gold in the Globe and Mail on Saturday.
“The 393-square-foot studios are being rented on a one-year lease at $2,650 to $2,750 monthly. A 517-square-foot unit rents for $3,275. A 589-square-foot, two-bedroom unit on the top floor with a large patio is available at $4,200 a month. There are 840-square-foot, two-bedrooms with two bathrooms renting at $4,300 monthly. For 10 years, the rents can’t go above market rate.”
Im old and grossly underpaid.. 3 grand rent for a place that’s worth 750 bucks.. That’s 36 000 a year for rent!.. I have no idea how people do it..
All governments have magical powers.
Everything they touch turns to shit.
Canadians: “I want the government to DO something!”
Hence, Canadians are shit-eaters.
Ottawa is the manure spreader of the East.
A 589-square-foot, two-bedroom unit on the top floor with a large patio is available at $4,200 a month.
There’s no way you can squeeze two bedrooms … plus typical living areas into 589 sq. ft. Well … maybe … if those bedrooms are 8 ft. x 8 ft. with no closets. That must be a misprint … so that’s the cost of a ONE bedroom penthouse unit. Sheesh … Palo Alto prices.
But if you put the toilet in the kitchen you can squeeze a twin-sized bunk bed in the living room.
BC is in for a world of hurt because of the NDP’s draconian war on landlords. Nobody will build rental housing in BC while these idiots are in power.
And once the Dippers are displaced, look for another government to enact similarly useless policies. Builders have to make a profit, and they can’t make a profit unless they charge market rate for their apartments, anyone who suggests otherwise is dreaming.
The only entity that can afford to build and NOT make a profit is DE GUVVERMINT, because they use other people’s money and have an endless supply of it.
Think soviet-style gigantic apartment blocks (like in those wonderful videos from Ukraine) built along Skytrain lines, built by government friendly contractors, but rented and managed by a government ministry complete with Union employees.
In about five year the places will be run down slums, but people will have a roof over their heads, and well compensated BCGEU workers will make enough money to vote for the government and live in the far out suburbs, like Chilliwack and Hope.
Yes Sooke, developers are building as the ENDP is greasing, subsidizing the big rentals.
Earlier this year, Freeland was spouting how proud she was of “affordable” rents offered by the Hudson phase3 in Victoria, with 1 beddies for 2500 a month……….
All these pinko lefty politicians are completely out of touch with reality.
On that note, when we are young, we lived where we could afford it, not whine and snivel that rents were expensive in downtown big cities. The ENTITLEMENT of the young today is beyond belief.
The BC Communists have created an economy that only survives by selling their homes to the Chinese. At some point, given no real economic development the economy will die.
Politicians and civil servants do not understand how the real world works. I have been a landlord (landlady if you are the grammar police). At the end of every year, I figure out my expenses for the year and set the new rent accordingly. I am NOT making a killing, and fortunately I can charge under the market rent for the unit. My tenant clearly thinks he has a good deal as he has been with me for 10 years.
I wonder how many of these mdu rental building developers have maximum do actions to the ENDP? How many of their toddler children made a maximum political donation?
This craven, awful government is now subsidizing the developers for building market rental rate luxo accommodations in the expensive ENDP hoods of Wangcouver.
Socialism for the champagne socialists. Between their failures with this, the “health” system, their ideological zealots and the increased cost of living, how many more reasons are required to toss the Commies out?
No one will build new housing if it costs more to build than the average person can afford. Average person makes 28 bucks an hour, and our GDP per capita has been falling for 8 consecutive quarters. Our future is people living in shacks made out of discarded pallets along railway lines, like in the third word.
I would like a shack with no strata fees.
393 sq ft. not enough room to change your mind