Why is the housing market driven by investors instead of home buyers?
Right now when people finally have enough money to buy a house, they are not competing with other buyers like themselves they are competing with investors with deep pockets. The largest 25 financial landlords hold nearly 20 percent of Canada’s rentals. They are using the housing crisis to make huge profits.
It shouldn’t be that way. For years, successive Conservative and Liberal governments have been helping developers build expensive rentals and calling it action on the housing crisis.
I believe in creating housing you and your family can afford. It is time for a change to the National Housing Strategy so public funds will go to projects that add truly affordable homes to our communities including non-market housing and rent-geared-to-income and co-op models.