If it’s true that REITs (real estate investment trusts) now control up to 40 per cent of B.C.’s rental stock, with last year’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 it’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 — many of which were purchased when prices were much lower by folks who don’t have mega-savings — while proudly claiming to be protecting homes from speculators?
Joan Bach
Saanich