Play a stupid game win a stupid prize: Condo vacancies rise, rents fall a little bit? as COVID-19 crushes GTA’s short-term rental market – May 1, 2020,

There are a lot of empty condos in the GTA, many are used for vacation homes, most are used by foreigners as bank accounts, and most are used to flip for some time in the future. As it relates to rents, a small percentage of Condos are rentals, if you bought a condo to rent it out, you’re amongst the moron class of real estate investors, because renters have rights and if this COVID-19 pandemic persists, go luck getting a renter who is willing to fork out most of their paycheck to pay your mortgage.

One of the reasons I would never rent out a condo is that the owner can sell, the owner can do a lot of things to make a renters life uncomfortable, which from a marketing standpoint pretty much equates to young inexperienced renters being the majority of the renters who rent out Condos.

I’m not sure what Federal, municipal and Provincial governments will do with this problem, but it’s really a silly problem created by socialist central planners, one of the reasons you don’t want small-time debt financers in rental markets, is because they don’t have any capital, usually don’t know how to raise capital, nor do they have access to any skills to access capital during economic downturns.

Canada’s entire housing market is a different level of stupid, I’m not sure how big of a problem this is, but it really shouldn’t be, if you bought a condo and you have a mortgage and maintenance fees and you’re a small business owner who renting for cash flow, you’re a moron!

If seen condos with maintenance fees starting at $600 for a 1 bedroom, I’d assume the mortgage is at least $1400, I mean come on, a recession is inevitable, I genuinely hope these aren’t the idiots that the government is going to bail out next, because I’m on the side of the renters, I wouldn’t pay anything!

There are bleeding heart Leftist and Liberal politicians all over the country who will say and do anything to get a vote. Play a stupid game win a stupid prize! If you live in Canada, prepare yourself accordingly! The story below just sounds so dumb, why is this even news! If renters have rights and Trudeau is promising all of these free money for not working, why waste that money on condo owner who will evict me anyway?

This entire situation is so stupid and it’s the reason why the Government should never get involved in the market. One could only imagine the government response to the inevitable because we all see what’s coming, what we can’t predict is the government response! I’ll end by saying I’m still shocked the Canadian dollar has been able to hold it’s value!

Condo vacancies rise, rents fall as pandemic crushes GTA’s short-term rental market | CBC

Interesting times ahead!