All this talk of foreign investors. But the reality is they represent a small proportion of single family homes[1]. It’s easy to blame foreigners, but the real problem is domestic. It’s corporations. Corporations are being all the housing[2]. And they don’t mind sitting on their invest, even vacant, for years. So yeah, y’all keep the bigotery going and blame foreing investors, you’re playing right into capitalism’s hand.
Foreign owners only account for a small share of the Canadian real estate market. According to Statistics Canada, a government website, non-residents owned 2.2 percent of residential properties in Ontario and 3.1 percent in British Columbia in 2020. The percentages were 2.7 and 4.2 in the Toronto and Vancouver metropolitan areas, respectively.
According to data reported by the PEW Trust and originally gathered by CoreLogic, as of 2022, investment companies take up about **a quarter [25%]**of the single-family home market.