British Columbia’s introduction of new rules for short-term rental sites like Airbnb is being built as a path to restore housing affordability and our hope is that uh short-term rental operators either convert to long-term operators or put their homes up for sale so that British colians have a shot of
Buy them a move being applauded at the federal level and has otell looking at Solutions too so we are looking around and are saying what can we do right away that makes more homes available for Canadians and the short-term rental is one of those spaces Finance Minister christop Freeland cited estimates in a
McGill University study finding 31,000 units could be freed up from shortterm rentals through further regulation but a recent study by the conference Board of Canada warns it’s not that simple Airbnb on its own is simply not large enough to have been impacting overall average rent prices the study looked to figure out
The connection between rents and neighborhoods and the growth of Airbnb units over time it did find a correlation between areas that saw rents rise the fastest and and those that had rapid growth in Airbnb units but Tony Bonin with the conference Board of Canada says that’s not enough to lay the
Price spike blame on short-term rentals in a statement Airbnb argues the report shows short-term rental rules are not an effective solution to local housing concerns and Expedia Group which owns the rental platform verbo warns a one-size fits-all policy on short-term rentals could have unintended consequences with the housing crisis
Showing no signs of ending yet bonan hopes their report will help policy makers determine where regulations are appropriate I think we really need to focus our attention on where we’ll get the most bang for our buck Sean preville Global News
As politicians pitch tighter regulations on short-term rentals as a way to improve housing affordability in Canada, there’s a renewed debate about whether crackdowns on platforms like Airbnb will lead to improvements.
A recent study by the Conference Board of Canada, for example, suggests even if some of these rentals are turned into long term or made available for sale, it’s unlikely to be enough.
Sean Previl has more on what the report says and why short-term rentals have become the new affordability lightning rod.
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An excellent and very informative video, thank you!?
Blaming everyone but Trudeau's failed policies will not help the problem. You can't bring in a million people a year and not have a housing crisis. It's common sense.
Everyone wants to downplay Airbnb. But it’s part of the problem. Regulating and also banning Airbnb would definitely free up units for long term rentals or stock for consumption.
People believe what they want to believe, and will use whatever statistics to support it. You don’t have to be a genius to know that shutting Airbnb’s down is a superficial solution and only a scratch on the big monster of housing un affordability.
It’s great to see a government actually take action. BC’s economy has been hurt by their high cost of living and rent in terms of loss of talent, loss of free money to reinvest in the economy and loss of diversity in investments. Maybe in 5-10 years people will learn that the only way to make money isn’t only in real estate and that there is real risk to real estate just like stocks.
This doesn’t solve the crappy Residential Tenancy Branch response time to complaints
We need more housing proyects for the ordinary Canadians , we are in real deep trouble atm
Ban airbnb, simply! they are not even offer real "hospitality" service but charge the same price as brand hotels.
The problem is landlords have no rights and the lack of a sufficient rental board gave immunity to squatters. Who wants to rent long term when the tenants can take advantage of the system and live rent free for a year because the rental tribunals are back logged. Airbnb looks like the only safe investment for property owners.
30000+ units is just a drop in the ocean. Not really enough to bring down the rentals.
We need safe, reliable and cost effective public transport so people can move away from densely populated areas.
Its a shame that it takes twice the time and costs three times more just to travel between Mississauga and Hamilton in a public transport compared to car.