Water Runs Downhill: Toronto Edition

Globe and Mail: More than 1,000 planned purpose-built rental units have instead been converted to condominiums in the Greater Toronto Area since Premier Kathleen Wynne’s government expanded rent control in the spring, according to a new report that warns the region’s rental supply crisis is poised to worsen.

And given how rent control can destroy cities this is a foreboding sign:

The report also warns that 85 per cent of the province’s existing stock of purpose-built rental buildings are more than 35 years old and will require higher levels of investment to maintain.


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