this post was submitted on 09 Sep 2023
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I wonder what the split between individual vs institutional investors is
Does it matter? Housing should be a right, not an investment. The reliance on housing as a savings mechanism has driven up the cost of housing in Canada. No one (wealthy) wants housing values to drop, as it would destroy their retirement resources.
Housing is a right, defined in the 1948 Universal Declaration of Human Rights, of which Canada is a signatory.
Not from the perspective of someone trying to find a place to live but it does matter from a policymaker's perspective. The way it is framed in the BoC report makes it sound like it's mostly individual investors (people with an existing mortgage).