{"id":13867,"date":"2019-10-09T11:11:44","date_gmt":"2019-10-09T18:11:44","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13867"},"modified":"2019-10-03T14:01:29","modified_gmt":"2019-10-03T21:01:29","slug":"landlord-ownership-is-steadily-increasing-in-bc-on","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/10\/landlord-ownership-is-steadily-increasing-in-bc-on\/","title":{"rendered":"Landlord Ownership is Steadily Increasing in BC &#038; ON"},"content":{"rendered":"<p style=\"text-align: justify;\">Landlord ownership is steadily increasing in BC and Ontario, according to Statistics Canada.<\/p>\n<p style=\"text-align: justify;\">The agency reported that as of 2018, the number of multiple-property owners in BC was over 268,600. Vancouver accounted for 53.6% (143,910 owners) of this demographic.<\/p>\n<p style=\"text-align: justify;\">In Ontario, there were 835,175 of these kinds of owners last year, with around 43% (359,475 owners) in Toronto alone.<\/p>\n<p style=\"text-align: justify;\">The two provinces, which host the two hottest residential real estate markets nationwide, have an abundance of housing investors. Taking advantage of these cities\u2019 desirability, many of these owners have chosen to rent out these properties.<\/p>\n<p style=\"text-align: justify;\">\u201cThe number of small landlords shouldn\u2019t surprise many. Canada\u2019s addiction to cheap financing makes condo development more favourable,\u201d Better Dwelling stated in its analysis of the StatsCan data.<\/p>\n<p style=\"text-align: justify;\">The implications on future supply cannot be understated. In recent years, new developments have tended towards high-end offerings that solely serve the needs of wealthy domestic and foreign investors.<\/p>\n<p style=\"text-align: justify;\">Realosophy Realty president John Pasalis has argued that the growing prevalence of investment-use condos is a major factor in sky-high housing prices, further adding fire to the market\u2019s long-running home affordability crisis.<\/p>\n<p style=\"text-align: justify;\">\u201cFive years down the road, do we really need 50,000 micro-condominiums that are renting for $2,000 a month?\u201d Pasalis stated earlier this year, as quoted by The Guardian. \u201cI think this is the risk when your entire new housing supply is driven by what investors want, rather than what end users want.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/landlords-account-for-a-growing-proportion-of-owners-in-bc-on-306018.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Landlords Account for A Growing Proportion of Owners in BC &amp; ON<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Landlord ownership is steadily increasing in BC and Ontario, according to Statistics Canada. The agency reported that as of 2018, the number of multiple-property owners in BC was over 268,600. &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/10\/landlord-ownership-is-steadily-increasing-in-bc-on\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-13867","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Landlord Ownership is Steadily Increasing in BC &amp; ON &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/10\/landlord-ownership-is-steadily-increasing-in-bc-on\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Landlord Ownership is Steadily Increasing in BC &amp; ON &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Landlord ownership is steadily increasing in BC and Ontario, according to Statistics Canada. 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