LETTER: Phase out rent controls to encourage affordable housing

From reader Stuart McDonald

In a recent column Councillor Mike Dailly talked about the housing crisis in Nelson and much of Canada and I agree that there is a housing crisis.

I had never heard of the change in the capital gains deduction as being a cause of the problem though taxation levels are a very important consideration when investing.

I have always understood the lack of rental housing in BC began in the early 1970s with the introduction of rental controls. Prior to the introduction of rent controls thousands of new rental accommodation were being built by investors every year.

After rent controls, new construction came to a halt and has never recovered.

At the time it was predicted a lack of rental housing would be the result, they were right. It wasn’t long before vacancy rates began to drop and it wasn’t long before the creators of the problem (our government) were promising to solve the problem by building “affordable housing.”

Now the vacancy rate is at zero, the government is still promising to solve the problem by building affordable housing.

Having destroyed the natural market that existed for hundreds if not thousands of years between the suppliers of rental housing and the consumers of rental housing, our government’s don’t seem wish to correct the problem they created.

Their faith in the people to solve their own problem and supply their own needs is very limited but their faith in their own ability to solve problems is limitless despite the evidence to the contrary.

If city councils want to see more rental housing created and the vacancy rate return to normal, they should be pressing the provincial government to phase out rent controls.

Stuart McDonald

Nelson

Just Posted

RDCK approves loan request to remediate Salmo tailings site

The H.B. Mine tailings pond poses a risk of toxic contamination

VIDEO: John Dooley elected Nelson’s mayor

Logtenberg, Anderson, Woodward, Renwick, Morrison and Page elected to council

15 new mayors to take office across the Kootenays

Here’s a look at the highlights from across the Kootenay region in B.C.

Castlegar voters choose Tassone as new mayor

All incumbent councillors also returned

Mayoral results from across B.C.

Voters in 162 municipalities in B.C. set to elect mayor, council, school board and more

Voting set to start in B.C. proportional representation referendum

Two-part ballots now being mailed to all registered voters

Voter turnout at 36% in B.C.’s municipal election

Vancouver saw 39% turnout, Surrey saw 33%

Harry and Meghan travel in different style on Australia tour

Prince Harry and his wife Meghan are on day seven of their 16-day tour of Australia and the South Pacific.

AP Exclusive: Stephen Hawking’s wheelchair, thesis for sale

The online auction features 22 items from Hawking, including his doctoral thesis on the origins of the universe, with the sale scheduled for 31 October and 8 November.

In Khashoggi case: Saudi calls, ‘body double’ after killing

Saudi Crown Prince Mohammed bin Salman called the son of Jamal Khashoggi, the kingdom announced early Monday, to express condolences for the death of the journalist killed at the Saudi Consulate in Istanbul by officials that allegedly included a member of the royal’s entourage.

Alleged serial killer Bruce McArthur waives right to preliminary hearing

Bruce McArthur, a 67-year-old self-employed landscaper, has been ordered to stand trial on eight counts of first-degree murder.

N.B. village faces backlash after council raises ‘straight flag’

Chipman Mayor Carson Atkinson says the flag met the village council’s criteria because it “recognizes, accepts and respects the rights of individuals under the Charter of Rights and Freedoms.”

B.C. oncologist changing the face of breast cancer treatment

Dr. Juanita Crook, a Kelowna oncologist, has seen 100 per cent success using brachytherapy to treat breast cancer in some patients.

Three strong earthquakes reported off Vancouver Island

The quakes, all measuring more than 6.0 on the richter scale, were about 260 kilometres west of Tofino

Most Read