[quote=“PLA”]^^^
Go ask my co-worker. He rents a 1 bedroom condo from a private owner for $890 a month, and comes with heat, water, and an energized parking stall. Meanwhile, an investment company attempted to rent out an identical flat on the same floor for $1000 a month, doesn’t include an assigned parking spot, and poor customer service.[/quote]
Couple of obvious points here:
Your co-worker probably rented his unit when market rents were lower.
You say the investment company ‘attempted to rent out’ their unit at $1000. If that rent really was too high, then that’s why they haven’t managed to find a tenant. They will therefore drop the rent until they do find a tenant, as no real estate investor likes an unoccupied rental unit. This is how the market works.
You need to understand that it is not ‘evil landlords’ that drive up rents. Its actually the demand from tenants that pushes rents higher. If there are few tenants and lots of rental properties, rents will fall. If there are lots of tenants competing for few rental properties, prices will rise. It really is that simple.[/quote]
I love it how you conveniently dropped out this quote:
Well done.
However, I forgot to mention that both figures are from last March, the time when the guy just got the condo.
I’ll believe it when I see it.
[quote=“investor”]More people and jobs => more demand for housing => rents and prices go up
Why do people think that the laws of supply and demand don’t apply to housing?[/quote]
Ummm… the LNG jobs aren’t even there yet, let alone the fate of the project. Also the town’s economic situation and population haven’t even changed much, or why else there are people from Rupert still making a living elsewhere in BC or Alberta?
Please enlighten me here. What kind of investment company would willingly leave an investment property empty for long periods of time? Holding out for an extra $$ on the monthly rent doesn’t make sense if the unit lies empty for months. Not to mention the increased insurance costs if it lies empty for more than 30 days, and the risks of maintenance issues like frozen pipes. I think you’ll find that these companies are a lot more rational than the tenants shouting out ‘greedy landlords’ the second that market rents climb.
As for your statement that the LNG jobs are not in Rupert yet, that’s not really correct. There are and have been lots of people in Rupert working on the various proposals. Just because they haven’t been approved yet doesn’t mean that they don’t have people working on them as we speak. These people have to stay somewhere, right? Local companies are also likely building capacity now so as to be prepared for the Petronas FID later this year.
If youve been living in rupert for years and were renting the entire time knowing you wouldnt be movi.g away then youre an idiot and its your own damn fault you cant afford to live there anymore. Maybe you should try and plan ahead instead of waiting for things to go wrong and complain how lifes unfair. plenty of people have been able to purchase their own homes with low paying jobs why didnt you?
If you are just starting out in rupert and cant afford it well sorry but you will have to move. Suck it the fuck up. I had to move away and it took me a decade to buy my own house and i had to move several ti.es to get myself in a good position. I worked hard for it and if you arent a stupid lazy fuck you could too.
Stop whining about how its unfair and figure your shit out.
No one should have to move from there community that they live in to unfair rental accommodations even you. should the little old lady down the street from me move from her community she has been part of 60 years you pretentious know it all.
Housing is a human right!
The United Nations knows it. Our Government knows it. But why is Canada still violating this basic human right?
[quote=“Astro”]No one should have to move from there community that they live in to unfair rental accommodations even you. should the little old lady down the street from me move from her community she has been part of 60 years you pretentious know it all.
Housing is a human right!
The United Nations knows it. Our Government knows it. But why is Canada still violating this basic human right?[/quote]
This ‘little old lady’ has had 60 years to build a downpayment and purchase a property, during periods when real estate was at times very, very cheap. If an individual doesn’t have the foresight to work and plan for their own future, there is little that we can realistically do. It sounds harsh, but that’s the way it is. Government is there to provide a minimum standard of living for those who can’t provide it for themselves.
You are correct that housing is a human right, and government has some responsibility to provide that. But being subsidized to live in the community or area of your choice is not a human right. If I’m wrong, then I would like the government to provide me with a house in West Vancouver please.
[quote=“jesus”]If youve been living in rupert for years and were renting the entire time knowing you wouldnt be movi.g away then youre an idiot and its your own damn fault you cant afford to live there anymore. Maybe you should try and plan ahead instead of waiting for things to go wrong and complain how lifes unfair. plenty of people have been able to purchase their own homes with low paying jobs why didnt you?
If you are just starting out in rupert and cant afford it well sorry but you will have to move. Suck it the fuck up. I had to move away and it took me a decade to buy my own house and i had to move several ti.es to get myself in a good position. I worked hard for it and if you arent a stupid lazy fuck you could too.
Stop whining about how its unfair and figure your shit out.[/quote]
At least you and I are so fortunate enough to move somewhere prosperous, and not break the bank at the same time. I’m just contemplating whether I should buy a house or a condo…
However, I’ll avoid commenting on why some people have trouble moving to other places of opportunity… only because I’m a nice guy.
Are you the “Little Old Lady”?
I have no clue where you’re going at. Honestly, people who are struggling wouldn’t ask the government for subsidised accommodation at Trickle Creek Lodge.
[quote=“Astro”]No one should have to move from there community that they live in to unfair rental accommodations even you. should the little old lady down the street from me move from her community she has been part of 60 years you pretentious know it all.
Housing is a human right!
The United Nations knows it. Our Government knows it. But why is Canada still violating this basic human right?[/quote]
No one should die young, no one should go hungry, no crimes should be committed. Nice fairytale you are living in. Let me know how that all works out for you. Little old lady should have been smarter with her 60 years.
Housing is not something you get for nothing. You want it work for it. Cant afford your community? Dont expect me to bail yojr dumbass out.
I was talking to someone yesterday recently moved here from south he could not get over how reasonable the rents are here. He looked at a nice redone 3 bedroom for $1500 and figured it was a good deal compared to about $2300 or so back home. While it is tough on lower income people here its not the job of property owners to be housing charities, its business. I feel for those with health issues unable to work as there is very little social housing here given the need but that isnt the responsibility of owners
So many people want a free lunch these days. If they can’t get a handout from the government, they want their landlord to subsidize their housing. If they’re really lucky, they hit the jackpot and get both.
Tenants also don’t realize how far the housing regulations here are weighted in their favour. There are lots of countries where tenants can be evicted with a month’s notice, for any reason.
It’s not about a free lunch what about those individuals with developmental disabilities that live in the community should they be asked to move away too. This is my last post on the subject. As I can see that we differ on the society we want our kids to grow up in.
Cheap, subsidized housing for low-income earners or people on disability/welfare/EI ect, is the responsibility of the GOVERNMENT, not PRIVATE landlords…end of story.
No one is suggesting that people who have disabilities or have experienced misfortune, or other issues that have restricted their development and ability to provide themselves with the basic housing needs should do without. There are subsidized housing options for these people.
Those who privately own rental housing, apartments, etc have the right to rent the space that they personally own at a profit and at a rate that the market allows. That’s how many make a living. It’s up to governments and dedicated societies to provide affordable housing. For the private property owner, he can do whatever he wants within the law. If you don’t like it, tough tittie.
Question for Astro… If you bought shares in RBC, would you take the full dividend you were entitled to? Or do you say “Hey you bankers have worked so hard, why don’t you pay me half the dividend this year. After all, I don’t really need it.”
Well, owning equity in a company is similar to owning a rental property. Landlords are entitled to receive a market rent and are under no obligation (moral or otherwise) to subsidize their tenants. Besides, as I have stated before (and as anyone with a cursory understanding of economics would understand) it is tenants that drive up rents, not landlords.
I believe a study is being done by our municipal government regarding future housing needs in the community. That being said, I’m quite sure the report will indicate the same as Terrace’s did, which was housing will become the number one issue for the community in the next 10 years. An amendment to allow laneway Housing is being sought by the council as well.
I have to ask, why are we not trying to get these big companies that are coming into Prince Rupert to give back more by getting some housing built as part of the deal? Instead of non-descript man camps for 2500, why don’t we try to get them to build some permanent housing or tiny houses on trailers that can be given to the community? For instance, 1% of 2500 is 25 homes. Make them tiny houses on trailers and you have affordable housing for 50+ people that can be moved to various locations in the community.
I think the issue will be space. As you know, Rupert does not have a whole lot of developable land, and when the various projects really get going the housing shortage is going to be beyond painful. That is why investors like me have been buying real estate in Rupert over the past year.
Building large worker camps is the city’s best bet to minimize the disruption to the rental and resale market. If they want the housing market to really explode a la Fort McMurray, they should do as you suggest and make Petronas build lots of nice detached houses instead. Personally, I would be laughing all the way to the bank, but it doesn’t really seem fair.