last year when it announced plans to spend $1 billion buying single family homes in mid-sized Canadian cities. The company didn't respond to requests for comment on the state of its investments.Blackstone, which describes itself as the world's, with billions spent on single-family U.S. homes, opened a real estate office in Toronto in May to expand on its $14 billion in Canadian real estate assets.
responding to criticism. "Rents are going up because there is significantly less supply of housing across the globe than demand for it."Private equity investors in the U.S. started buying up single-family homes following the 2008 subprime mortgage crisis and ensuing recession, said Barrett of the Canadian Urban Institute. But the trend did not catch on to nearly the same degree in Canada. heard by the U.S.
Poor maintenance, broken air conditioners in the sweltering U.S. south, a lack of garbage collection, mould, exorbitant charges for late payments, and no one to respond when things break, are among the problems tenants in houses owned by large investors have reported to advocates.Unlike average people who usually require a mortgage to purchase a home, equity investors typically buy with cash, meaning they are more insulated from rising interest rates than individuals.