Councillor Josh Matlow

Toronto’s rental crisis threatens social, economic fabric: Opinion

April 4, 2017
Josh Matlow, Ana Bailao
The Toronto Star

“Due to a historically low vacancy rate of 1.3 per cent, and a lack of new purpose-built rental supply, more and more residents are finding themselves precariously housed by renting condominiums,” writes Josh Matlow and Ana Bailão.  (Richard Lautens / Toronto Star)

While there is seemingly endless development of new condominiums, rental prices in the City of Toronto continue to rise and units are frequently being rented to the highest bidder. Due to a historically low vacancy rate of 1.3 per cent, and a lack of new purpose-built rental supply, more and more residents are finding themselves precariously housed by renting condominiums. The problem has been exacerbated by the 1991 exemption policy which allows for unrestricted rental increases.

It is argued that the time has now come for non-profit, community, and private-sector organizations to work with all levels of government and governmental agencies to tackle the rental housing crisis and prevent the hollowing out of our city.

Read more: Toronto’s rental crisis threatens social, economic fabric: Opinion

2018-08-13T16:14:40+00:00
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