this post was submitted on 28 Aug 2023
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This is part of the investment a homeowner makes, and increasing the value of a home through repairs and renovation really shouldn't be looked at as a bad thing.
If you are renting a place, you expect the same repairs and improvements to be made, which is why rent doesn't simply drop because of “depreciation”.
Well, some people do sell their land so that developers can have their way with it. I don't think that's a good thing overall, since there needs to be some balance.
But multi-unit housing on expensive land does not make it affordable. Having an income that's above the median, in addition to renting, is what Stats Canada says is affordable housing to the majority of Canadians.