A group known as “financial landlords” are driving up the cost of rental housing in the city, worsening affordability, according to a new study by researchers at the University of Waterloo.
Financial firms, including private equity, asset managers, and real estate investment trusts (REITs), have been snapping up rental housing stock in Toronto for decades and according to the study, these groups charge monthly rents that are 44 per cent higher than the average neighbourhood price in Canada’s largest city. This represents about $670 more on average per month, according to the researchers.
Until the Feds shut the immigration floodgates this will only get worse. And worse is what they want.
