to spend $500 million on the development of 2,000 to 3,000 more rental units, with a first project already slated for development in Toronto’s east end.
A recent study from the Bank of Canada found that investor activity doubled in the Canadian housing market between 2020 and 2021. Investors now account for one-fifth of all residential buyers in Canada, the data found, and have increased purchases particularly in cheaper areas like Ottawa, Gatineau, Winnipeg and Halifax.
Initially named Tricon Capital, Gary’s father David Berman founded the company in 1988 as a boutique development firm off Bay Street that provided funding to local developers building for-sale housing. The company’s collection of single-family rental homes accelerated after Tricon launched a far-reaching company strategy in 2019, aimed at maximizing shareholder value, called “Project Genesis” — “a reference to new beginnings in the biblical sense, but also a nod to the British rock band that spawned successful solo careers for its front men Phil Collins and Peter Gabriel,” the company wrote in a report to shareholders.
“If you extend this out 10 or 15 years, if these companies’ visions unfold, we’ll have a much higher percentage of homes belonging to über-wealthy elite hedge funds that make it harder for us to buy property, and the only option is to rent from them,” said John Pasalis, president of Realosophy Realty.
I'd love to know this guy was getting ass raped in jail...maybe one day.
Get the fuck out of here with this bullshit.
'A narcissist tells himself what he needs to hear to feel good about all the money he's making'... Fixed it for ya lol
Absolutely scum of the earth
The earth provides enough to satisfy everyone, but not enough to satisfy everyone’s greed.
We seriously need new leadership in this province, country and continent. Look what can be done.
These are the people you should be concerned about. Not the little mom and pop investors
This what Trudeau meant by 'improving housing'. The switch to 'housing' not growing the middle class, not ownership. Subsidizing the corporate class to buy up / build more to enable eternal renter-ship. High corruption
This guy is the embodiment of halitosis
He looks computer generated
If we expect capitalism to survive in a democratically elected government, we cannot critique businesses that adventure into nature of trade legally. It is up to the forces of demand and supply to keep social balances with businesses.
I argue we should crucify Gary and see if anyone else wants to buy 20,000 homes leading to an increase in the housing crisis. Everyone complains about foreign buyers when we have these deranged perverts right in our own backyard.
And we wonder why there is a crisis in being able to buy a home. Stagnant wages and home prices driven up- while public policies fail real working people trying to buy a family home.
If by contributing a social good he means accelerating the rise of mao, then yes.
*takes one look at the guy* lmao you gotta be kidding me
The wall. That’d be a societal good.
parasite
my god the corporate bootlicking here
'Turning a necissity for survival inti a commodity is a social good.' ~Some wraith.
Does he own a home, or does he prefer the flexibility of renting?
torontostar please interview me about why i hate tricon ceo gary berman
Unless they provide quality housing for much less than the insane market rates, they are not providing a social good. HousingCrisis
Commodification, and concentration of home ownership is not a social good.
Yah, keep thinking that
I have to say I wonder what's next in capitalism. Daycare's that use the kids to assemble products? Retirement homes that discount you if you give them rights to your corpse? Private healthcare you can finance through the sale of a kidney? There seems to be no bottom.
Ofc he would argue that
Access to cheap capital, bid up the prices, what could go wrong?
There called slum lord's!!!
Another bunch of greedy people !!! Seem's to be the new trend every where!!!
fuck this guy. also, stop amplifying him
Soon coming to Canada.
If this expands the availability of rental properties then it’s a good thing.
Bad argument lol