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Are ‘mom-and-pop’ investors pricing out first-time homebuyers?
(globalnews.ca)
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this post was submitted on 01 Apr 2024
98 points (93.0% liked)
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I feel like I'm missing something. Don't we have a housing shortage, not merely an "owner-occupied" home shortage or a "rental" home shortage? Somebody please tell me what I'm missing.
If too many homes were owned by investors and rented out, why aren't rented homes more affordable? If you say, "greedy landlords," are you suggesting that the roughly 1.4 million landlords in Canada (source) are all effectively colluding? I find that highly implausible.
If we had sufficient housing supply for the demand in general, wouldn't that result in lower prices to both rent and own, depending on what's right for each individual?
Nobody is homeless waiting for a home to be built they can purchase. There isn't a physical housing shortage.
Are you suggesting that building affordable homes wouldn't help anyone escape homelessness?
Homeless people aren't usually the class that can secure a mortgage or have the cash to purchase a home regardless of the affordability of the home.
Right, but you can also rent affordable housing...