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this post was submitted on 06 Sep 2023
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I'm not sure that works. The idea was that if rent control was lifted, there would be incentive to build new units. Trouble is, the building didn't happen as expected. New housing starts even declined after the change came into effect. Balance is not going to give more incentive to build.
Since it didn't work, we may as well go back to a proper rent control system. A proper one, not the completely ridiculous one that sees young, struggling families subsidizing rich retires that we currently have on those <2018 properties.