According to a Bank of Canada report:
Investors were responsible for 30 per cent of home purchases in the first three months of the year, according to data released by the Bank of Canada. That is up from 28 per cent in the first quarter of last year, and 22 per cent in the same period in 2020. The central bank defines an investor as a buyer who took out a mortgage to buy the property while maintaining a mortgage on another home.
The effect of investor buying is:
“During housing booms, greater demand from investors can add to bidding pressures and intensify price increases,” said the note. “Similarly, when prices are stable or declining, a lower influx of investors can add downward pressure on housing demand and prices.”
Fuck Canada! This piece of shit of a nation allows housing to be used as an investment utility.
Half the fucking Canadian politicians are fucking landlords.
But it’s the immigrants and foreign students’ fault driving up the prices!! /s
30,000 new jobs and 100,000 new immigrants last month. its not one thing exacerbating the situation.