MP Criticizes Rental Housing Profiteers
This is a B.C. news story, published by vancouversun, that relates primarily to Jenny Kwan news.
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NDP housing criticvancouversun
•It's 'naive' to blast the big institutions that provide rental housing, say developers
70% Informative
Vancouver East NDP MP Jenny Kwan lambasted powerful “profiteers” that “financialize” rental housing.
Liberals, and the Conservatives before them, have long encouraged the creation of real estate investment trusts, commonly known as REITs.
But readers likely won’t be surprised to hear that the property development industry, and many politicians, don't have trouble with REIT.
The eventual owners and operators of most of the hundreds of new rental towers being proposed for Metro Vancouver — including within the drastically upzoned Broadway corridor and around SkyTrain stations — will indeed be REIT firms.
B.C. government restricts when and how much tenants can be charged in rental apartment blocks.
Developers calculate how much interest they can afford to pay on land, construction, taxes and fees.
The total cost for the typical 20 -storey rental tower projects being proposed these days is about $125 million , says Moore.
VR Score
76
Informative language
77
Neutral language
27
Article tone
semi-formal
Language
English
Language complexity
54
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
9