“Under this liberal government, the cost of rent for Canadians went up 60 per cent,” said Kwan. “Liberals are letting corporate landlords rip off Canadian families by jacking up rent when they bring in a new tenant, and vacancy rates are lower than ever.”
Kwan says that the Liberals are making it easy for corporate landlords to get a profitable pay day on the backs of Canadian families struggling to find a home they can afford in their own communities.
“Letting corporations and speculators turn our housing market into a casino for the ultra-wealthy is wrong,” added Kwan. “But the Liberals have turned their backs on renters. When are the Liberals going to crackdown on the profiteering of corporate landlords that is keeping families from finding a home they can afford?”
City TV: Concerns raised about rising cost of rentals for low-income earners: Vancouver MP
A Vancouver NDP MP is sounding the alarm when it comes to rent-geared-to-income housing units, saying incoming changes by the federal government will lead to a severe shortage within the affordable housing market in this country.
Vancouver East MP Jenny Kwan says she’s learned that as of March 31, 2028, Ottawa will be cutting subsidy funding to non-profits that operate buildings that include units for those on a fixed income. Once those suites are vacated, she says the price of those units will be bumped to market rates.
For example, a rental suite that’s going for $650 right now could be increased to $1,800 or more.
Kwan adds these changes are happening right now at some buildings in Metro Vancouver as non-profits try to bank money to prepare for their funding to be slashed in the future.
