How a heady mix of privatization, ineffective rent control and cheap capital fuelled an investment boom that made Toronto housing unaffordable for regular families
Experts say real estate has become a game, where investors rather than end users are the main players, buying and selling property to cash in on Toronto’s hottest commodity. In the process, they’re driving up prices and pushing out prospective homebuyers like Jaqueline Belardi, who just want somewhere to live.
Investors’ hold on real estate has become hard to ignore, leading the Bank of Canada and even Prime Minister Justin Trudeau to call them out for the commodification of housing.
Investors now own more than 50% of Toronto’s new condos — and experts say they’re driving up housing prices for everyone – Toronto Star, December 2, 2023