Abolition of private property in land and application of all rents of land to public purpose.
Without question most would agree that the real estate market drives the rental industry in Ontario. Low interest rates and values that climb annually without apparent logic make investing in a house or condo a no-brainer for those inclined to take on some risk. But going in, most investors think the risk is small or non-existent, and for many the fall-back is that they or a family member can move in when it suits them. After all....it's their property, right?
While it's the topic of other blog entries, I haven't even touched on how the Residential Tenancies Act makes private property owners surrogates of the government by forcing them to act as social workers and use the fruits of their own labour to deal with issues of mental illness in their tenant population. Isn't that the government's job, to be paid for by all taxpayers as part of general tax revenues?