551
Corporations hoarding homes thank Canadians for enthusiastically blaming immigration
(www.thebeaverton.com)
this post was submitted on 22 Aug 2023
551 points (97.7% liked)
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Your point is that blaming corporations is a cop out. My point is that blaming the corporations is not a cop out, and one of the reasons, not the only reason. NIMBY and zoning regulations are definitely also affecting the crisis.
That is such a naive point of view. Landlords would rather leave a unit empty instead of lowering rent because otherwise it would lower the value of their investment.
The housing market isn't a free market like you seem to imply. People need to have housing, so landlords will definitely gouge their tenants because they can and we see an article pretty much daily of renovictions and rent ballooning up once the lease is at term. Having more supply would definitely alleviate this problem, but it is only part of the solution. REIT buying swath of houses with lower interests than individuals is definitely inflating the prices because they can buy housing at a higher price, causing the other houses in the area to raise as well.