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LETTER: Rental market out of control

If itB´ÎÔª¹ÙÍøÍøÖ·™s true that REITs (real estate investment trusts) now control up to 40 per cent of B.C.B´ÎÔª¹ÙÍøÍøÖ·™s rental stock, with last yearB´ÎÔª¹ÙÍøÍøÖ·™s gift from the NDP who removed rental restrictions on 55-plus condominiums, how long will it be before they have even more control? And if itB´ÎÔª¹ÙÍøÍøÖ·™s true that a tiny apartment in Victoria can cost $1,900 these days, where on earth are renters going to live?
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If itB´ÎÔª¹ÙÍøÍøÖ·™s true that REITs (real estate investment trusts) now control up to 40 per cent of B.C.B´ÎÔª¹ÙÍøÍøÖ·™s rental stock, with last yearB´ÎÔª¹ÙÍøÍøÖ·™s gift from the NDP who removed rental restrictions on 55-plus condominiums, how long will it be before they have even more control? And if itB´ÎÔª¹ÙÍøÍøÖ·™s true that a tiny apartment in Victoria can cost $1,900 these days, where on earth are renters going to live?

And why did our government gift REITs the opportunity to buy seniors strata homes B´ÎÔª¹ÙÍøÍøÖ·” many of which were purchased when prices were much lower by folks who donB´ÎÔª¹ÙÍøÍøÖ·™t have mega-savings B´ÎÔª¹ÙÍøÍøÖ·” while proudly claiming to be protecting homes from speculators?

Joan Bach

Saanich



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