Owners scramble to sell short-term rentals

This is great news.. i'm in the market :D

😂

When the housing market crashes (or at least returns back to mid 2000's prices) you'll see everyone buying again. You can't charge more for something when everyone's broke AF. The value of home prices needs to be slashed in half (for starters)

A great man once said "necessities of LIFE should NOT be traded as commodities on the stock market" Ie food, housing, water, air. Plain and simple common sense

I feel so so so sorry for you…hahaha

oh well. These rentals disrupt housing, to everyone's detriment. It is for the greater good the law closed this.

The popularity of air B and B has plumteted because they have gotten absurdly expensive like hotels and have too many rules/restrictions. I sleep in my car most nights when I travel because hotels have gone from $50 to $100 a night to $200 to $400 a night in the last 10 years and as someone making a measly 90k a year I cant afford that. Sleeping in their car is the only way alot of people can afford to travel. I also had a hotel give away my reservation the day before to the highest bidder which left me in a bind and after that terrible experience I vowed never to be at the mercy of a hotel again.

Good, so many people taking advantage of properties, They were making the homeless issue worse. Glad to see more regulations coming to balance out the rentals in BC.

We the workers are fucked over by Airbnb because we have to pay higher prices for housing to support the landlord class that doesn’t want to work I’m tired of being a slave

Ha ha!

First rule NEVER buy anything with association fees. B/C you have no control and it doesn't belong to you

I love it!

In a year or two the real estate in this area will deteriorate with no capital investment. It will become a slum. Watch....

All the whiners on here, its nauseating. Victoria is only good for owning property to rent to be perfectly honest.

Greed will get you nowhere!

That’s what these folks get. They were wanting to sustain themselves by ripping others off & monopolizing off others, the little guy. They helped create this housing crisis we’re in.

That's a good thing, now we need this to be a federal law.

Oh no! Anyway...

I don't have sympathy with people who buy second or third or fourth homes

Oh and the CANADIAN GOVERNMENT caused this housing issue...600 thousand people a year into the country...not TAX paying Canadians

The GOVERNMENT LOVES pulling the carpet out from under hard working Tax Paying CANADIANS... and Canadians cannot do a darn thing about it!!!

Housing shouldn't be a business when 25% of Americans are homeless

Good! Now maybe poor prople can have a place to live now vs rich karens owning 20 houses

The rentier class is being sacrificed for the greater good. They are speculators and assume risks. They lost this time, because the rules changed. It’s called Creative Destruction, a necessary part of capitalism. I have no sympathy for these complaining gamblers.

People should understand investment risk. Don't feel bad for them at all. Speculate on real estate and find out 😂.

I can never cry at ultra rich people complaining about losing their investments.

If it hasn't sold prices are too high.

Tough finding out you don’t own your property the State does..

What people dont realize is by the time you get in the game it’s already over. Covid destroyed everything by design. It was always meant to make sure you will be forever controlled by governments and you will not earn nor keep your retirement.

Thank the NDP corrupt government

L M A O, wow I will not feel bad for these jerks destroying our country.

STRs are horrible for residents/home owners of buildings or neighborhoods where STRs are allowed.

What do expect knuckle head. You jumped on a band wagon and now it’s turned tits up for you. When it comes to building long term wealth, stay away from ‘too good to be true’ bonanzas.

Aww so many living on the streets also had the rug pulled out from under their feet when greedy humans starting atockpiling homes to make money off up. Short term rentals need to go!

Zero sympathy. These people have messed up the housing markets, making it tremendously expensive for everyone and unaffordable for far too many. They've also created costs and annoyances for their neighborhoods, immediate neighbors, and homeowners' associations. Good riddance.

Get rekt

I mean its an easy fix just let that building continue

They should go after the corporations buying everything.

Tragic and unfair to change the zoning to outlaw non-nuisance businesses. But good short summary by Robert Buffam.

Oh, Canada..

Booo hoooo. Also “small business” 😂

get what you deserve greedy boomer do you know any homeless zoomers in your city from this? No sympathy

LOL 😂

Should we feel sorry for the greedy then?

Oh no! People made terrible investments that assisted in destruction of the housing market and now they want to cry because the tables have turned? Enjoy the losses ya imbeciles.

It seems like the solution for the Victoria property shown is a zoning change that would allow the building, or at least enough units to qualify, to be converted to a hotel. Heck maybe the "hotel" could rent the units from their existing owners?

Here in Charlottetown PEI the city council did something similar with STRs and people sold their STRs. Then the city council reversed that decision. Now people who sold are hopping mad. Funny though I think most on city council own STRs. Watch out Vancouver this may be revered if the right palms are greased.

People need places to live. Mass amounts of housing (of any type) being used as short term money makers takes away housing for people living and working in a community. We need to do a lot more for communities and not so much for individual rich people.

No sympathy for these people. They speculated at the expense of everyone else.

No worries. Give it time. The price will drop given this new law.