We asked Toronto real estate broker Daniel Foch & mortgage agent Nick Hill to record a chat about our latest piece on mortgage originations which began falling *before* interest rates climbed.
Article discussed: Canadian Mortgage Originations Fell Before Rate Hikes, Ontario Took The Biggest Hit
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Investing in single family residential real estate is quite frankly a dirt-bag move, regardless if you own one extra house or 100 extra houses. You’re removing inventory from the market that a family may have been able to buy, live in, and save their money with. These guys can try and justify it all they like, but they’re overly defensive because deep down they know it’s morally indefensible.
Add to that most of these “investors” aka. “speculators” wouldn’t even be buying if they weren’t trying to ride the manic price gains. Rental yields are trash right now, and don’t remotely justify the purchase price. 100% of recent “investors” in real estate aren’t investing, they’re gambling, plain and simple.
You want to invest in real estate? Go buy a factory, or maybe build a hotel. Stop forcing families to become renters because you’re greedy.