When a developer becomes a landlord to thousands of Canadians, what happens?
Last week, Core Development Group announced its intention to spend a billion dollars buying family homes in hot markets across Canada and converting them to rental units. On the surface, this would seem to bring badly needed family rentals into markets that are in desperate need of them—but there's a lot more going on here than just that. What does a billion dollars in corporate money do to an already overheated housing market? Will these rental units be affordable for families that have been priced out of home ownership? How does a condo developer plan to become a landlord at a cross-Canada scale? And why do so many housing advocates warn this will set a dangerous precedent?
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Show Notes
Last week, Core Development Group announced its intention to spend a billion dollars buying family homes in hot markets across Canada and converting them to rental units. On the surface, this would seem to bring badly needed family rentals into markets that are in desperate need of them—but there's a lot more going on here than just that.
What does a billion dollars in corporate money do to an already overheated housing market? Will these rental units be affordable for families that have been priced out of home ownership? How does a condo developer plan to become a landlord at a cross-Canada scale? And why do so many housing advocates warn this will set a dangerous precedent?
GUEST: Rachelle Younglai, Real Estate Reporter, The Globe and Mail
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