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Prices of rental properties are inflated by immigration of non canadian owners Check it out

There is in fact no actual housing shortage in the USA whatsoever. The problem is that that wealthy individuals have strong incentives to park excess capital in real estate and landlords have strong incentives to maintain asset values through cash flow potential (appraised through $/sq.ft rent revenues). What ends up happening in both cases is that you end up with lots of empty houses sitting collecting dust artificially gaining value due to scarcity, and with rentals, you end up with perpetually inflated rents and vacancy rates that are as high as a landlord can tolerate just to maintain the appearance of value to the lenders. Often these owners will borrow more money and use an apartment that might be 40% vacant as the collateral for the lender and go buy another building and so on. What people don't penalize is the fact that that 40% vacant building with 60% rented out at above fair value gets treated on the balance sheet to the bank as if its 90% rented out from an asset value perspective thereby setting the asset price artificially high. Simple legislation of the tax code can fix this issue and unlock lots of sidelined housing. All we have to do is progressively tax 2nd 3rd 4th ect. homes higher and higher rates that essentially cancel out the asset gains, and do something similar for vacant units in a apartment building. \nIts just at the core a case of the rich hoarding something that has been made artificially rare. On top of all of this, because of how valuable properties have become, there are now many interests that capitalize on the entire process of building new housing that make it ever more expensive. Our taxes are funding numerous regulators that stymie new development, while the developers have to then hire numerous attorneys and planners to pitch a project and litigate it through the cities to get approvals. This can take over 10 years in a major city. All this contributes to the ridiculous costs of building these days.

As a baby boomer, I’ve been fortunate with rising home prices and a cash flowing business. My multiple rental properties are always leased by international students and I get endless supply of willing labour.\n\nI’ve been blessed. Myself and other boomer friends are in the same position. \n\nThank you Stephen Harper and Justin Trudeau for your policies.

Too late. The cultural shift has begun. Our children can no longer get summer or part-time work due to those jobs going to subsidized immigrants. Then they have to compete with said immigrants for rental property at inflated prices. Gen Z has all but given up, and they're right to do so. Who wants to work like a dog just to break even?\n\n These problems will not quickly be solved. This is what 12 years of Liberal management has given us.

We need to prohibit foreign students from owing property in Canada. In places like Vancouver, corruption/gangs/forieign govt are using these students to buy up properties in Canada . It's pushing up homes prices in Canada. If universities want the money from foreign students so much, they can pay for rental housing for those students. In places that are extremely popular in Canada, especially BC - like Vancouver and Vancouver Island - there are mass foreign students who come here driving Teslas and owing multiple homes in the most expensive areas. Our govt should ban ALLLL foreign home ownership, esp students... and Uni's can provide housing from all that money they are making

I know exactly where your coming from.I have lived most a lot of my life away from Scotland. I have been back off and on past few years due to personal circumstances. I see a great change in immigration and the way the country has went downhill with the current government as transport roads etc are unacceptable now and lack of good rental accommodation with soaring rental prices and buying property is way too expensive and not worth the price. Also similar to Canada and USA the cost of living is way too high. I am leaving in coming weeks with no intention to return. I wish you good luck where ever you decide to call home away from Canada Alina!!

the west has always been welcoming immigrants, be it to meet job demands, or asylum for refugees from less well to do countries, or even retirement. It is okay to let some/ quota for immigrants but i felt recently it has gotten so much it is affecting locals, in terms of property prices, cost of living and rental rates, all increasing due to more demand. plus, over tourism is also pushing out locals. the world is so different from 10 years ago. once immigrants settle, they will set root and apply for PR / citizenship because the standard of living is much higher than their original country. and when population increases, it's going to cause even more pain to the locals. meanwhile, the west is shifting to lower cost countries to live and retire, albeit at a slower rate.

You forgot to mention that a large majority of MP’s are landlords or have investments in real estate rentals. The trend was visible since 2004. These rats are the ones creating the demand, they have stalled real estate development, they have brought in more immigrants to increase the demand. The liberals, Conservatives, NDP, they’re all corrupt, freedom trucks and older people think Pierre will save them, he will not. The worst part that even if this mess were to get somehow fixed, prices will not go down, because businesses know that Canadians will pay for more. These rats don’t care, once they have done their business here, they’ll move to Texas, Florida, or California, or some Caribbean country. They’ll keep working as a “international relations” or some sort of public relations relations position for a private company that will give them millions, to use their networks and influence to speed up projects in Canadian communities. They’ll reap the benefits of spending less in the united states, while still sucking Canadians dry through their rental real properties or whatever else they have an interest to spike up the cost of while they are in office.

I found people who blame immigration for this , ridiculous at best ! What caused this , has been decades in the making well before Trudeau and it’s government. \nBoth parties are responsible for this . \n\nThe wages have stalled for decades while everything else has gone up . Look at the minimum wedges in Australia and NZ comparing to their cost of life ? You have the same rental and real estate prices for double the salaries . \n\nLetting foreign interest buy out land and properties trough bidding wars to the point of kicking out Canadians of the market caused this . Prioritising the construction of luxury condos instead of building more affordable houses caused this . \n\nBut please keep blaming immigrants who work their ass off in jobs that most of you refuse to do , instead of blaming the lack of all of the successive governments to address an issue they knew was going to hit us in the face one day .

The root cause of many societal issues is often greed. For example, lax immigration laws can lead to increased tax revenue for the government. Landlords exploit the housing market by overcharging tenants, while some homeowners resist new developments in their neighborhoods to maintain the value of their properties. When greed is prioritized, everyone loses. The government should act to support the people and set a positive example.\n\nTo address the cost of living and soaring housing prices, policymakers should consider revising immigration policies, implementing rental rate controls to curb excessive landlord greed, and streamlining processes to build more affordable housing. Additionally, subsidies could be used to encourage new construction.\n\nThere's also concern about money laundering through real estate investments by foreign actors, with little action taken by the government to tackle this issue. The carbon tax, intended to address environmental concerns, is ineffective, unnecessary, and nothing short of a cash grab by the Liberal Govt.\n\nIt's crucial for the government to recognize these problems and take steps to resolve them, but that won't happen with Trudeau in power. By fostering a fairer and more just society, we can work towards a more equitable future for everyone. Until then, welcome to Commusocialtatorship Canada.

00:00 ?? 2015 Canadian Election: Justin Trudeau elected Prime Minister promising change. \n01:01 ? Housing Crisis: Homeownership in Canada becoming unattainable due to soaring prices. \n02:18 ? Rental Crisis: Rental vacancies at all-time low, driving up prices and leaving many Canadians struggling. \n04:48 ? Government Policy Impact: Government policies, including immigration and lack of housing investment, contribute to housing affordability crisis. \n06:49 ? Foreign Investment: Foreign investment and money laundering contribute to inflated property prices in Canada. \n07:20 ? Food Prices: Food prices rising due to lack of competition and government policies, leading to increased food bank visits. \n08:41 ? Gas Prices: Government policies, including carbon tax, contribute to high gas prices. \n10:51 ? Economic Productivity Decline: Decline in economic productivity attributed to lack of private sector investment, lack of competition, and government intervention. \n13:00 ? Conclusion: Outlook grim, with challenges in maintaining lower interest rates and addressing cost of living

The government officials have many many many rental properties that each minister owns and rent out to immigrants and locals for very high prices. All they care about is money and it's a form of corruption that is so very very brutal. Canada is full of propaganda. I can't stand Canada anymore.

I live in London i know all about International students and how crazy things are since rental properties are non existent and the price has skyrocketed for rental properties and another is the city transit system that is always packed with many buses are having to tell people to wait for the next bus because it is so packed. it is getting out of control in my opinion because not only do we have the students we have all the Asylum seekers on top of that and how they add to the wait lines in the ER and walk in clinics. and then they are looking for places to rent to but there is nothing because everything is packed.

Same problems with house prices here in Sydney Australia that have gone thru the roof. So many young people have been priced out of the market. And renting is also very expensive due to a shortage of rentals available. And there's also been a huge surge in rural property prices, farms etc as well.

500,000 new arrivals per year, in a saturated housing market is BOUND to cause demand and rarity... ANYONE that studied economics for even 30 minutes understands the link between offer, demand, and price... Anyways, the REAL issue is WHY THE SHORTAGE of affordable housing in this country? \nIs it creepy local elected officials that LOVE rising property evaluations and the taxes they bring? Is it speculative pricks, just buying anything to wash away dirty money? Is it the shortage of units that Airbnb and other short-term rental monstrosities created? Or is it, maybe ALL of those? No matter what it is, blaming the FEDERAL, when most of those conditions are due to LOCAL or PROVINCIAL control, is pretty IGNORANT!!!

I live in a small rural Northern community, East Indian immigrants have bought out or taken over nearly every business in the community, our car wash, both grocery stores, both Hardware stores, subway, pizza place, two of the three restaurants, only motel, nearly all the rental properties, and they are shifting their investment now to homes, as we can still buy homes up here for reasonable prices, they are buying them, doing some cheap renovations, and trying to flip them for large amounts. All these local small businesses in the community used to employ young people from the community, they used to be places of employment for summer jobs for students and for the elderly people who retire here to have jobs to keep busy. Since the influx of people from India, all of the jobs in these stores that have been bought out by them are now done by Indian people, nearly everyone who used to work these jobs in my community has lost the opportunity to do so because since the businesses were bought out by Indians they only hire their own kind as employees. I know at least 10 people directly that have lost their jobs due to this, and there are certainly more. We allow foreign investment in our business and real estate market, and these people come in, completely take over and dominate these small communities, and fill them with their young people from India and take away all the jobs from the local people living here. Its horrible. My wife and I are planning on moving to Eastern Europe, Canada in another few decades will be nothing more than a province of India.

The rental issue because ON Premier Doug Ford removed the rent control limits back in 2018, since he has done this, any new housing, rental units, renovations that occure after 2018 the property manager can settheir price and / or is when thos renovictions started (after unit renovated and since after 2018 the landlord increases the tenant's initial rent more than what the city would set as their limit usually betwen 1 to 3 percent, But this drastically changed during and now after the pandemic years.

Canada does more to discourage start ups then encourage them. Canada is a terrible country to try and start a business which explains why so many exploit the house market, which in turn has made a complete mess of affordable housing for Canadians. Foreign property investing was suppose to have been stopped but the Liberal government changed their mind and decided to allow foreigners to continue buying up properties and driving the house prices higher too the point properties are empty because no one can afford the rental prices. I guess that's why the Federal government introduced a new tax for properties that are vacant. Oh Canada

If we don’t fix the affordability of housing in this country soon, it’s going to get really ugly. The powerful financial incentives driving the purchases of multiple properties as investments is sucking up a larger and larger portion of housing supply - and driving up prices steadily. Rentals too don’t have enough supply thanks in part to rent controls, and high immigration. It’s fine if you are a ale to borrow huge sums to cash in, but it’s bleak fro people living paycheck to paycheck.

My sister and brother in law told me when moving to N.S. that they came across numerous homeless families. Apparently COVID caused a migration to the east and those families living in rentals were quickly kicked out by the landlord to sell at a high price, sometimes the buyer is not even Canadian but some foreign property investor. There is not enough housing there and no infrastructure to start building said housing. A small part of a larger problem in Canada.

Nova Scotia has many plusses, but it also has gigantic minuses too. Apartment rental prices in Halifax are as high as those in Toronto and rents in smaller towns are also very high- especially in relation to salaries. Nova Scotia has the highest provincial taxes in Canada but with very little to show for it. Around 100,000 Nova Scotians do not have a doctor at the moment and the list is growing not decreasing. Public schools are overcrowded and have very high class sizes- Nova Scotia teachers are the lowest paid in the country. If NS has the best schools in the country, then Canada is in big trouble. Yes, the province did have less violent crime than Ontario or Quebec (property crime has always been around the national average), but that is changing with the increase of 'new comers' in our cities. Fights/Assaults have always been a part of life here, but stabbings used to be non-existent. Now they are common place in our province. Just keepin' in real. It is still a pretty place, but perhaps it is better to visit than to live here.

To me, the problem is threefold. a) Toronto and Ontario in general - and perhaps the whole of Canada - are accepting way more immigrants than they have quality jobs for. If you need taxi drivers and plumbers, maybe this experience should be valued way higher than education as part of the existing immigration programs (which is not the case). At least then potential immigrants know this before they come and get stuck in low-paying or relatively OK-paying but repetitive and demoralizing jobs with debts and mortgages that become a trap preventing them from leaving. It's also partially on immigrants themselves who come to Toronto to only find out there's 100 people competing for one spot and that you need to be exceptional - or connected through your ethnic network - to work regular white-collar jobs. b) The official bipartisan policy of non-integration. The naive expectation that having people live in ethnic enclaves will somehow make the overall culture richer is not what happens: instead, people tend to stick to their own communities and the common culture thus gets eroded and limited to economic and financial matters. This makes some cities feel like one large business with everyone networking 24/7 instead of socializing normally. And arguably, having the right culture / social life is what motivates already successful people move in the first place. So when they come and they find out there's nothing but money talk and hustling, they leave (if they're smart). Quebec is doing better in that regard, but then Quebec is not really Canada and it's been pressured to cave in to the same money-centred, uncultured and disconnected society by the feds for decades now. The States is smarter in that it actually makes sure to integrate its immigrants (and let's be honest, many immigrants like being part of a new culture if it fits them) c) Treating real estate as an investment and not as a basic necessity (as Japan or some Nordic countries do, for example). That coupled with a lot of Asian money being laundered in Canada through immigration channels and private equity firms buying whole apartment blocks for rental purposes has led to the highest housing price increase in all of the developed world in the past 20 years or so. The median price of a condo in Toronto is higher than in New York despite the massive gap in salaries and the fact that New York is one of the most expensive cities in the world to begin with. Some draconian measures are needed here to prevent foreign - or even out-of-province ownership -, second property ownership and corporate ownership for renting purposes.