Real estate speculation is a national sport in Canada, but it may have gone over the line. The Statistics Canada (Stat Can) Canadian Housing Statistics Program (CHSP) released data showing the share of newly constructed condos owned by investors in 2021. The data reveals that most units are investor owned, amplifying concerns of financialization and ownership concentration. Both issues lead to inefficient markets that aren’t just difficult for the public, but increase vulnerability in the event of an economic downturn.
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