Rent Bank

[BC Landlord]

You're in the "providing housing" business not in the "profit" business after all!

Eliminate all landlords.

Geesh no, ... that would be a charity. I must admit, I am in this for profit only. Otherwise, I would voluntarily "eliminate" myself from the market. So would many other landlords. Then, ... what??

[Mark1111]

If tenants aren't paying their landlords mortgage then rent prices should have nothing to do with current real estate costs!

No more whining about paying your bills end covering your costs and being forced to raise the rent.

You're in the "providing housing" business not in the "profit" business after all!

Eliminate all landlords.

Ofcourse tenants are paying their landlords mortgage. That's the way the world works. I don't see the problem.

[JLives]

Ofcourse tenants are paying their landlords mortgage. That's the way the world works. I don't see the problem.

The gouging is the problem. People need homes and when it's viewed as a make a profit business it hurts people.

[BC Landlord]

The gouging is the problem. People need homes and when it's viewed as a make a profit business it hurts people.

Could you please define "the gouging"? People do need homes indeed, and they are available on the market. But if they weren't for profit, they wouldn't be there, ... Why can't some people understand such a simple concept?

[JLives]

Removed duplicate post

[JLives]

The gouging is the problem. People need homes and when it's viewed as a make a profit business it hurts people.

Could you please define "the gouging"? People do need homes indeed, and they are available on the market. But if they weren't for profit, they wouldn't be there, ... Why can't some people understand such a simple concept?

They are not available where people can afford them without making other people pay for it for them. It's pretty simple

[Vacancyrate]

The gouging is the problem. People need homes and when it's viewed as a make a profit business it hurts people.

The average house price is ridiculous.

In order for the average family to afford it they have to rent out their crawl space for 1200/month. People don't buy homes anymore they buy a home PLUS a business because the house price requires a 3rd household income. Mom and Dad work full time but that's still not enough they need that 3rd revenue stream. That's what happens when house prices rise 3 times as fast as wages. You run out of income.

I think people who outright own their properties have more room to be charitable with rental prices but when it comes to a leveraged person in the modern economy trying to get into real estate they are charging rents the reflect what their mortgage payment demands they charge. Many people couldn't even get a loan unless they were buying a place with a mortgage helper. It's also why the city of Kelowna allows illegal suites. It's a gift to the real estate sector disguised as a gift to renters! Lots of these homes would never sell if they had to be brought up to code but a house with a illegal rental will sell immediately.

This brings us to how the Federal Government will do whatever it takes to protect and continue to artifically inflate home prices and prevent any deflationary action in the real estate sector. New buyers not being able to get loans is bad. New buyers not being able to rent out their places at 1700/month for a one bedroom is bad (where we will be in a year or two). That cannot be allowed to happen.

Will the Government hand out "rental subsidies" to renters that flow directly into the landlord pockets, allowing people to buy more and more expensive homes and charge higher and higher rents to be able to afford them?

You bet your butt they will.

It's a ponzi that can never stop.

Who knows, maybe they'll allow polygamy to protect home prices.

If you have 4 wives that's 5 household incomes!

[BC Landlord]

They are not available where people can afford them without making other people pay for it for them. It's pretty simple

What you described above is called competition. Some can afford it, some can't. Simple indeed.

[JLives]

They are not available where people can afford them without making other people pay for it for them. It's pretty simple

What you described above is called competition. Some can afford it, some can't. Simple indeed.

I give zero *bleep* about competition. We build community and provide homes.

[Buckeye19]

They are not available where people can afford them without making other people pay for it for them. It's pretty simple

They are definitely available without "making other people pay for it for them" as you say. My core group of friends and I grew up in Kelowna. Every single one of us has bought a home within the last 5 years and we're all in our late twenties to early thirties. Some of us have more disposable income than others but we all made choices and chose careers that would allow us to have the financial flexibility to make this possible.

I can only think of a couple of friends who have renters supplementing their mortgages. Some of us have short term rentals and, yes, we do use it as a secondary source of income.

It's all about choices.

[BC Landlord]

I give zero *bleep* about competition. We build community and provide homes.

Who are "we"? How many homes are you providing?

[BC Landlord]

I mean immigration is driving housing out of the reach of Canadians. It's the only thing driving the economy now.

Immigrantion??? I've always thought born-Canadians had a huge head-start compared to me. Came to Canada in my 30's with a suitcase in my hand. Wish I grew up here.

Close the gates, raise interest rates back to 5% ....and the bubble bursts. No 'rent bank' needed. Lots of rentals would be available.

You realize, there are no guaranties foreclosed properties would go back to the rental stock? In fact, most of them don't. You know why? ... Because, not too many people want to put up with this nowadays, and it's not because of immigrants.

[JLives]

They are definitely available without "making other people pay for it for them" as you say. My core group of friends and I grew up in Kelowna. Every single one of us has bought a home within the last 5 years and we're all in our late twenties to early thirties. Some of us have more disposable income than others but we all made choices and chose careers that would allow us to have the financial flexibility to make this possible.

I can only think of a couple of friends who have renters supplementing their mortgages. Some of us have short term rentals and, yes, we do use it as a secondary source of income.

It's all about choices.

How many of you work in Kelowna? Renters supplementing a mortgage isn't inherently bad such as a basement suite when owner lives upstairs. Short term rentals contribute nothing to our communities outside of profit for yourselves. Not really an admirable way to make money in my opinion. We provide affordable homes people can actually live in.

[JLives]

Who are "we"? How many homes are you providing?

We is my family. And more than 1.

[BC Landlord]

How many of you work in Kelowna?

What does it matter?