U.S. investment giant Blackstone's expansion into Canadian real estate raises concerns

,” an investigative documentary by award-winning Swedish director Fredrik Gertten. The documentary explores the commodification of housing around the world, citing examples such as New York and Toronto.

When asked about what he means by “organizing,” Dent explained that the Federation of Metro Tenants’ Associations “helps the tenants work together to fight various issues: above guideline rent increases, repair issues, illegal charges.”Article content“The Chalkfarm complexes and 666 Spadina come to mind,” he said.But there are others who might not see Blackstone’s move as a drastic change.

“They’re doing it much more intentionally and out in the open,” he said. “Blackstone has been involved in [Canadian real estate investor] Starlight and purchased a few other Canadian REITs [real estate investment trusts] in the past, but they haven’t had a ‘boots on the ground’ presence and acquisition strategy in Canada.Article content

In March 2019, Starlight Investments — an affiliate of Blackstone Property Partners — announced they jointly purchased eight Toronto-area apartment buildings, their second major Canadian transaction.Blackstone’s spokesperson explained that the company’s strategy is to take a “long-term view” with its focus on “building and acquiring resilient businesses,” with no interest in investing in single-family rentals or individual homes in the country.

The pandemic has lent its full weight to e-commerce, creating more demand for industrial land and warehouse space. In May, Re/Max Canada published a report saying that demand for industrial land and warehouse space in the nation is at an all-time high.Asked if this move shows that Canada is now “hot” for such a big player, Dent replied, “It’s been that way for years.

I would impose a high enough tax rate to remove all economic profits from companies taking advantage and contributing the high price of canadian real estate. With the goal of helping regular working canadians and not international investors.

They are vultures ready to pick the meat off the bones. They see opportunity to make money and then leave.

Let's stifle innovation and business and also bring in this ESG garbage.

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