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Well this is happening in the whole world !\n\nUncontrolled mass influx of wealthy people and foreign investment has triggered the housing crisis we are facing.\n\nIt is not only immigrants but wealthy international students too, coming with whole families and able to pay whatever it takes to rent the the house they want. \n\nThey have inflated rents to the point that young Canadians can no longer fulfill their dream of owning a house as their parents did.\n\nThe first step is to turn off the immigration flow and start building bungalows, which people can afford to buy, as was done in the post-war period.\n\nNo more bullding luxury condos or townhouses. Young Canadians need something affordable to be able to leave their parents' homes.

Immigration is not the culprit. Deep pockets with money is. Stop bringing in foreign wealth. Stop allowing investments in property.

My sympathy to the landlord! Having tenants is the worst investment, I suggest if you can, invest elsewhere. The Board is on delinquent tenant's side. Open a file and evict her. I advise all landlords to verify thoroughly all the candidates when they rent away their property.

investment richer is leaving from the canada ?????

The problem is that Conservative and Liberal federal and provincial governments have not been investing in housing and supportive programs because they have been cutting taxes for the wealthy and corporations.

Any investment has risks.

sell the condo? maybe lower the rent? maybe you're too greedy? renting condo is no different than stock market investment. there's no guarantee profit. you may lose, you may win.

That's bull. The government has never invested in housing the way they were supposed to be. I don't remember the last time housing was part of election debate. Neither at provincial level nor national level. Immigration is again used at the boogeyman to justify housing problems. Grassroots organizations have been saying for years that we have a housing problem, and since it wasn't a sexy subject for politicians, they never talked or did anything about it.

Moral of all these horror stories is forget renting. It's best to invest in the market and sleep sound at night.

35 years ago, obtaining a Canadian visa required substantial financial resources, which applicants had to bring to invest in Canada, along with undergoing a thorough background and health check. It wasn't easy to become a Canadian citizen, so only a select few managed to achieve it.  Today, it feels like the standards have dropped significantly—allowing entry without financial requirements or rigorous screenings. This shift has led to increased crime rates, littering, and even the deterioration of our once-pristine beaches. It's disheartening to see Canada moving in this direction, allowing individuals who may not contribute positively to the country. They primarily come for the free healthcare and other benefits.

It looks like rental property is not the best retirement investment.

Screw Landlords, say it with me investment property is a risky portfolio and shouldn't be used for retirement at least in an active income sense. Good on tenants putting the screws to a class of people that shouldn't exist.

i just asked a.i why construction costs are through the roof and one of three reasons is increased fuel costs ... and shortage of construction workers ... the real problem is the supply and demand ... if you don't agree people should think about what happens when not enough people are buying something at the retail stores - the thing will go on sale. Don't forget the WEF is in Switzerland where they have anonymous Swiss bank accounts and ten billionaires for every politician who attends ... no chance for global real estate investment corporations to bribe our politicians to make life almost unbearable for too many Canadians by bringing in too many people so the price of real estate goes unchecked eh ? It's a vicious cycle now ... construction costs are too high now due to too much immigration ... immigration must be slowed down !!!

This is terrible!!! She needs to get dragged out. This is not okay, he worked hard for his investment only to be robbed - not okay

I like multiculturalism and this country is founded on immigration. But we need to put cap on each country when receiving them so to maintain the balance of good mix.\n\nI get bothered why this guy statistically divide white vs others. In the end this land belongs to the indigenous people none of us. \n\nAnyways, most of my friends from Western Europe, Japan, Korea and Singapore - first world nations, have already moved back after couple of years of living here. Aa a dual citizen myself, I plan on retiring in my other country.\n\nThis country has to realize if they receive massive influx of people- they need to invest and build more infrastructure. Look at Gardiner- it's constantly on construction mode. Hire more surgeons and make better family doctor system. This government only legalized marijuana and brought more problems. We used to live near Trinity bellwood and the park is now filled with used needles. \n\nAs for homelessness, it's always been there and it got worse during economic depression (2008 mortgage crisis) and current prime rate/inflation situation. Even if you study stats from government subsidized housing, most immigrants work and get out of help but the old immigrants (whites) usually don't flip out of the situation for generations. So there is no reason to tie and blame the Indians for our old problem of homeless population. Stay on point and stop tying it down with non-related issues.

How does a landlord in this situation afford to carry this investment?

This is a big part of the reason why we have a housing crisis. Nobody wants to invest their money in creating rental units if they can’t collect rent, so that reduces the supply of rental units. Less supply equals higher prices. Landlords also have to charge more to account for potential lost rent in this system. So in the end the stolen free rent is simply paid for by other renters who get passed on the higher prices

Tenants done pay rent, Landlord is terrified and leaves Investment property vacant. Govt charges vacant tax. Landlord hikes rent to cover interest and past dues, tenant stops paying again. Govt collects tax from both.

Lesson: build a retirement investment portfolio and don’t rely on a rental income for retirement. If this gentleman had been saving those pennies into index fund ETFs, he’d have a boat load of money to withdraw from for retirement!

Another reason why you shouldn't buy property as investment and definitely not your primary investment for retirement.

I would not invest in property for renting

Investments come with risk

If your in Canada, Just invest in a REIT if you want to have money invested in real estate beyond where you live

So stop buying for investing. Go invest in something else

So.. it is an investment pay for it...

why is it that career landlords feel like they should be charity for the liability of their investments. This is the downside to buying up all the real estate in the GTA. If he doesnt want this kind of trouble then he should invest in the stock market or buy a retail business etc.

A rental property isn’t a GIC itts not guaranteed money it’s a investment and some investments go down. But we have a serious problem where someone can live for more then a couple months with out paying rent

That's amazing now people will stop houses as investment

Should have invested in something other than a Toronto condo. It's too risky.

There should be powers to evict a tenant based on not paying rent, 41,000 are you kidding me that’s disgusting that it is allowed to happen. Police should be called as she is stealing services.\nDo you think the bank cares about the payment from the mortgage on the first of the month, nope they want their money that man has the right to protect his investment

The tenant has not paid rent or utilities for 4 years! The Landlord /Tennent Board is a joke in Ontario. The tenant is playing the system, she knows the Landlord /Tennant Board is an ineffective government organization. Why would anyone invest in a rental property in Toronto? You could wind up like these people.

Landlord Tenant board is a joke and should be called Tenant Board. Since PC govt came in power two housing minister have made situation worse for small landlords. There are less adjudicators than 6 years ago and applications take upto a year before learning takes place. Even then, any excuse by tenants is tolerated but landlord suffer. I will not invest any more in Ontario. It is a very very bad place and PC govt does not care. I do not know what housing minister does all day. Sad.

Canada isn't a nation of immigrants at all. Canadians are the descendants of immigrants the same as everyone else on the planet, including the indigenous. That is, unless your family has never left the place where humans first evolved.\n\nUnlike modern immigrants, the first white settlers in north America did not sail into an established society with power stations, health care, water and power distribution networks etc., to get the benefit of other people's hard work and investment. They started from scratch.

Boo hoo. There is no safe investment.

Im selling my rental unit, too many risks and investment is not protected by law at all.

People shouldn’t be allowed to scam and not pay rents. But I also don’t believe people should be allowed to own residential properties as investments. Theres no shortage of other things to invest your money in. If people couldn’t own residential properties for renting purposes these scammers wouldn’t be able to do this. They would have to buy a home or nothing. Also homes would be less expensive with no investors in the market.

using housing as an investment... what is wrong with Global News.. like the backwards news pointing out ttc riffs and landlords who use their property as investments.. like.. arent there more pressing issues you think?

Basically these kind of things happen when the economy is starting to go south, more crimes and scams are coming as the situation get worsen. This new era of chaos begins back since covid time, and will probably last for this decade. Hopefully, i am all wrong on this. Now is not the time to have secondary properties as an investment option when fed fund rate still around 5 % despite upcoming rate cut, and this is the time to keep investment conservative, budget tight and spending under constraint, in hope, global recession will be on soft landing.

Again, being a landlord is a business investment. All investments have risk. Don’t want the risk don’t be a landlord. Housing is a human right.

Maybe don't buy property intending to use it as an investment / business when it's made for people who actually want to live in it

Should have anti corruption and greed \n\nImmigration is part of the issue but its greed of the well off people making things expensive \n\nEverything is owned by select few why not fight for 1 residential property per 18+ person all investment properties now will be taxed 200%

I have only been in Canada for seven months now, but I noticed a few things about its economy that led to this mess. I noticed that Canada has no globalized companies, meaning the government only makes a little money from doing business with other nations. Businesses here are lazier than their neighbor, the USA, or even in my country, Vietnam, which could be due to a lack of competitors. Cad also has the biggest forest reserve and largest oil deposit but is the lowest exporter. So I wonder how on Earth it stays in the top 10 wealthiest countries with such lazy activities. Up to this point, foreigners are the biggest income of Canada; this country is truly built on immigrants. To keep the country running, it must attract more foreigners. Without int' students, how much do citizens have to pay to keep schools running? If you view it differently, the government also sells the PR through SV Visa because, let's be honest, if millions of investors have invested, there should be something or at least one globalized company, but there are none. From $75k to $200k, foreigners can buy PR for every family member. It is considered affordable for Asian families compared to the USA or Australia. On top of that, another scam is a carbon tax, which means the government needs to learn how to make money rather than invent taxes and sell dreams to foreigners.

Canada needs half a million new workers brought in every year to function. Not happy about that? Have more Canadian babies, and quickly please! But housing? Different beast. How much of this is because of foreign (Chinese) investments snapping up scores of apartments, just to park money? Apartments that will not be used for housing people. That is why housing costs have been driven up.

Terrible take. Shame on you. Why don’t you do research before you frame that the main issue is immigrants. You make zero mention about how developers and investment owners are given useless perimeters about what to build (they’re mostly all building unaffordable luxury condos, even before materials and labour were so high) and zero restrictions on shockingly greedy rental pricing. Airbnbs are also still a problem even with revised rules. The issue is with our City Halls and their ineptitude. Stoking a fire about this BS is only going to bring more violence on immigrants so I hope you’re willing to be accountable for that.

The immigration system in Canada is a fraudulent criminal enterprise. Its sole purpose is to fleece unsuspecting people of their life savings and future economic output. \n\nImmigrants are sold the lie of the Canadian dream, bilked of their money on immigration services, then deposited into permanent tax enslavement, as they will never have the opportunity to invest in themselves or their communities.\n\nThe sheer scale of the plunder, not just of the immigrants themselves but of born-Canadians as well due to second order effects, is much more vast than is generally perceived.

just issue millions of permits to live on the shield in a large trailer. Lots of jobs to be had in emptying grey and black water, trash and recycling, and refilling the potable water tanks. Snow removal, lawn care, h-vac... I could keep going. Then there's the need for a feature industry that actually produces value. Tunnelling all that rock would be a very long term investment, but I like it. We can cut trees. Have nuclear power plants...

Most people realize this has nothing to do with a persons race. Its population size. When you increase population size drastically it effects infrasture when government dont invest x amount of dollars into system. You have to plan. Look at our housing market. SUPPLY AND DEMAND ISSUES. When you increase population size and there's not enough homes to house people that only increases the costs. Whats going on is suicide to alot of people. Also media does not want to report why Liberal government has 4x increased immigration in a yr span compared to 1x. Also why is there racial preference for India? The amount of immigration coming in from India is much higher then other races. I'm curious about that.

I think the real reason are:\n\n1. Refugees from Ukraine, Afghanistan, Syria and Asylum seekers from Africa.\n2. Foreign investment in housing was allowed until 2022 which played a major part in prices going up.\n3. 1+ Million International students allowed in 3 years.\n4. Average Canadian doesn't want to work a minimum wage job, especially now working with foreign people.\n\nBlaming one government, country or race wont help. That is just jealousy towards most common looking immigrant, which are South Asians.

Maybe people should start looking at the military industrial complex Eisenhower mentioned at the end of his presidency. Causing wars all over the world and then everyone wants to come to the west. Maybe stop wars in other countries so they can develop. Also have countries invest in their own education systems so they don’t have to come to the west and change the concept that western countries is where you can make it. Also, those who do come have to integrate, however, if you come from a country where there isn’t plurality and coming to a democratic society, you’re eventually going to have problems.

One of the other major decline of economy is no one wants to do business because of tax who ever has capital invest in property.