22 Weber Street West | 15 fl | Proposed

[tomh009]

I thought that we were in a housing crisis! Not a healthy rental market. My point is that most if not all new builds refuse to lower their rents as they are owned by corporations with deep pockets. Individual condo owners on the other hand don’t have that luxury and that is where we are starting to see rent reductions.

Corporations (or REITs) are ultimately looking to make a return, too. 90% occupancy at 10% lower rent is a better result for then than a 70% occupancy at full rent, for example.