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(LifeSiteNews) — According to the president of one of the nation’s largest real estate firms, institutional investors who have been buying thousands of homes in America are now doing the same thing in Canada.
Referring to the trend as a “new phenomenon,” ReMax Canada president Christopher Alexander told CBC News this week that while institutional investors have primarily been focused on American real estate, he suspects that the practice of large corporations buying up real estate may become more common in Canada now that prices have begun to decrease amid interest rate hikes.
“The lower you can buy as an investor, the higher the chance of selling high,” Alexander told CBC News. “They are well capitalized, they are smart and they have the means to make an impact in the marketplace.”
While billion-dollar companies have been buying homes for decades, a shocking study out of Harvard found that more than one-in-four homes sold in America in the first
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