Populist "rent freeze" catch phrase may bring unintended consequences
Again, I don't want to minimize the struggle by middle and modest income earners who already struggle to pay rents in BC, but this call for a 'rent freeze' by some civic political candidates I believe is misguided and fraught with risks. A Rent Freeze by definition is a price control mechanism. BC already has a rent control device, which apparently is inadequate for it to allow a 4.5% annual maximum increase for 2019. Its true that the regulatory framework that the Residential Tenancy Branch uses to establish such rate controls could use some reform. But to arbitrarily freeze rates would open a can of worms that I believe are unintended consequences of their intended goal. In real world experiences where this has been done, its triggered an ironical result of higher rent increases and a drop in rental supply; almost the same result as general price controls in the early 70's in the OPEC Oil embargo, fuel shortages were triggered. I haven't signed up to the neo-...