In a news story today I read that more and more landlords are opting out of the New Brunswick government rent subsidy in favour of MORE PROFIT.

The common thought in capitalism that is often quoted is that the market will regulate itself by the invisible hand. Here is proof once again that this just isn't true. We are in a housing crisis. So you would expect capitalism to step in and build more housing since the demand is so high. 

BUT 

Instead, we are getting higher and higher rents which is making life completely unaffordable and the affordable government-backed subsidized housing is being gutted for PROFIT by Rent Seeking Landlords. 

In cases such as this we must demand that government step in and regulate the market. And I am not saying by absuing the landlords. I am saying by having them become the landlord. Take advantage of the Buy, Renovate, Rent, Repeat Method that private capital has been using to make themselves a large landlord that isn't profit-driven and will flood the market with affordable and liveable housing. 

"Recent data from the Department of Social Development shows the wait list for an N.B. Housing unit in the province doubled in the past five years, going from about 5,000 households at the end of 2019 to 10,733, as of Feb. 1."

The demand is there, the mechanism is there, the land is there, and the loans will be available to the city because it has a good income, good credit and a guarantee that it will pay. 

So why isn't the city doing this?

Could it be because so many people in government at all three levels are landlords, which would hurt their ability to drive up prices in the crisis market? Could it be that they don't know this is available to them? I will give them the benefit of the doubt. 

"the N.B. Housing program helps developers fund the construction of apartment buildings by offering loans of $70,000 to $80,000 for each unit that's to be subsidized".

So what you're telling me is we can get subsidized housing built with the help of the government, have a massive amount of each door covered by a loan, then rent it out at a reasonable rate and become a huge portfolio of housing which we can then go back to the banks with and get more mortgages and do it all over again and again?

It is a no brainer. 

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As always, THANK YOU, you are wonderful and I am so glad we are together,

Andrew