This thing is pretty common in Canadian cities too. Speculators and large investors flood the market and rent out buildings at ridiculous prices. So the regular guy can't afford to buy a house or rent something nice due to supply and demand. Unless they change capital gains tax rates, this shit won't stop. But that won't happen lolI agree, but it seems to me that most people did not even watch the video and just assumed it was about Canada because the title read "Toronto Landlord".
Why Canada is losing affordable rental housing faster than it's being built
Financialization in housing
As Canada's real estate market has heated up, large investors have brought industrial standardization and a financial focus to the landlord business.
The Bank of Canada says that one in five people buying a house is doing so as an investment.
Housing experts call this trend "financialization."
Martine August, an assistant professor in the school of planning at the University of Waterloo in Waterloo, Ont., estimates that 20 to 30 per cent of Canada's rental apartment market is owned by institutional landlords, and that real estate investment trusts — or REITs — own nearly 200,000 rental units countrywide.
Real estate investment trusts own or invest in income-producing real estate and distribute profits to their shareholders. Many are traded publicly on the stock market.
Some in the industry give similar estimates. REALPAC, the association that represents many of Canada's largest real estate companies, says the top 21 large real estate owners hold 17.6 per cent of the rental apartment market.
"We're seeing this kind of single-minded orientation towards trying to extract as much value as possible out of those buildings," August said.
"The important thing to realize is that those buildings are people's homes. And where that money comes from is basically tenants' pockets."
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