I sent another letter to the editor

Let's be honest, one of the reasons rents are skyrocketing is because of greed.
Yes, those who have a mortgage on an investment property need to cover rising interest payments. Never forget, they already own a home and have decided to use the housing market as a profit making strategy.
Another reason for higher prices is Real Estate agents advising landlords to raise their rental prices to make a larger profit year after year. Not forgetting that the higher the rental, the more the real estate agent creams off the top.
Without controls in place, rentals will never go down, forcing an ever larger percentage of the population to become homeless.

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DeWayfarer · 61-69, M

Certain things need to be controlled. Not everything, like the greedy capitalist want to make a mild form of socialism out to be.

I'm not a socialist. Yet the greed is so pervasive in today's society that it looks like that I am one.

Some Capitalism has its place. Yet not when it comes to basic needs. Housing is a primary basic need. You can't keep anything including food if you don't have housing. Everyone NEEDS housing first. Or you get the homeless over whelming the cities in an endless circle of helping them.

No home, no food, no clothes, no work, because they have no home.

That's exactly what is happening here. The homeless are everywhere on the streets. And the charities seem to be supporting that. By endless giving food and clothes, but no work, nor housing.

Gusman · 61-69, M

@DeWayfarer Homelessness is going to grow so quickly everywhere that those who are housed will turn on the homeless leading to crimes against humanity.
Cities will be overwhelmed. There will be the perception that cities are unsafe so people will do a huge chunk of their shopping on line, leading to "downtown" becoming ghost towns.

DeWayfarer · 61-69, M

@Gusman that is exactly happening here!

More than half the businesses down town are vacant! No one there to even say go elsewhere.

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PoetryNEmotion · F

@Gusman I have a roof and a job. I pay rental for the land. My home is mine. Your increase here would be illegal. There are rent rules here. Legislated. One cannot find a one bedroom for that price in London, Ontario. It would be double or more. What shall you do, Gus? As " seniors" we get no extra benefits from the government. It is horrible.

Gusman · 61-69, M

@PoetryNEmotion I am okay for the next 2 to 3 years. After that the price becomes exorbitant on my income.

PoetryNEmotion · F

@Gusman You should be thinking of the future. Why wait? Think of realistic solutions today. You are not getting younger, Gus. Think now.

whowasthatmaskedman · 70-79, M

Although it may not sound like it at first I agree completely with you. My son and Daughter inlaw are a professional couple and own (in partnership with their bank) a total of 9 properties including the apartment they live in. What makes them different from many others is their their investment properties are all cash flow positive, whicj meand that negative gearing of the mortgage debt doesnt apply to them. And their tenants over time will pay for those houses.
Thats not the case for many people, who rely on the tax deduction to make their investment pay.. And thats a terrible government policy, put in place to encourage Australians to get rich and provide for their own retirment. but its got out of hand in the hands of the real estate industry and really needs to be stopped.. The recent interest rises hurt a lot of people. Driving them close to losing homes.. And with investors, the easy way out was to slap the burden onto the tenants. By definition the most vulnerable group..😷

Gusman · 61-69, M

@whowasthatmaskedman Nothing will change because the real estate industry is a very powerful one.
Worth over $80 billion annually and employing over 140,000 people

whowasthatmaskedman · 70-79, M

@Gusman Plus the connctions to the financial service industry and bank profits. and the government stamp duty of land purchases. I agree. So much of politics is about preserving the Status Quo..Those who are making money donate it to poliical entities who will allow them to keep making it..😷

MarineBob · 61-69, MVIP

What about the rent forgiveness fiasco, when insurance, taxes, mortgage payments,and upkeep still had to be made with no income coming in

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DeWayfarer · 61-69, M

@Gusman they unfortunately want sensationalism. They are looking for the images and videos with commentary along with it. 😞

Gusman · 61-69, M

@DeWayfarer My letters get published regularly.
I have had at least 15 published in the previous three years.

DeWayfarer · 61-69, M

@Gusman there's no local news agency here. I would have to send it 30 miles away. And they have no interest in reporting any here. It's got to be huge like major road closers before they even notice.

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