Post by High Priestess on Mar 17, 2017 5:04:50 GMT
"Fairbnb" has an opinion:
While the hot housing market in Toronto has led to a short supply of rental units and soaring rents, a recent report ( fairbnb.ca/Fairbnb_Report_Feb_29.pdf ) by Fairbnb claims short-term condo rentals are also a big part of the problem.
“I think it definitely has contributed to the rental crisis,” said Fairbnb’s Thorben Wieditz.
“The city of Toronto’s vacancy rate is 1.3 per cent — in some of the condo buildings and condo districts it’s actually below one per cent — and removing any units of the housing market will definitely decrease the supply, increase the prices, and make it more difficult overall for people to find a place to live.”