This article made me curious so I looked up USA numbers - also high 20s . but the more shocking thing was that in 2020-2021 it was 80%!!!

The world needs to clamp down on housing as an investment and start legislating that housing is for shelter! God capitalism is dumb

This is the best summary I could come up with:

Investors have become more prevalent in Canada’s housing market, accounting for 30 per cent of all residential real estate purchases in the first part of this year, according to new data.

Over the course of the COVID-19 pandemic, investor buying has grown as soaring home prices ramped up interest in residential properties as an asset class.

The pandemic’s low interest rate environment and the proliferation of marketing promoting real estate investing have encouraged everyday Canadians and investors to buy multiple properties.

“The presence of investors in real estate markets can amplify house price cycles,” the Bank of Canada said in a note accompanying the data.

So far, the federal government has not addressed individual domestic real estate investors as it tries to come up with policies to deal with the lack of affordable housing.

The central bank’s data are designed to shed light on two vulnerabilities facing the Canadian economy: the elevated level of household indebtedness and high house prices.

The original article contains 614 words, the summary contains 160 words. Saved 74%. I’m a bot and I’m open source!