"LRTs displace all the poor people"?

[mpd618]

What everyone always misses is that the rents are dictated by the mortgages.  Lets assume a a $250k condo with no parking - a landlord gets an 80% LTV mortgage - the payment is $930/month (CIBC mort calculator - 1 yr closed at 2.84%) + property taxes + insurance + condo fees.  That unit is going to be on the rental market for $1500/month.   Pretty sure that's not affordable housing.

In a market with market pricing that has to be competitive, rents cannot be dictated entirely by the mortgages. As one data point, brand new condo rentals in Sage 5 can be had for $1000/month.