We have this here in Canada. What happens is that investors buy up the entire unit/condominium/apartment-tower and rent it out. Many of them don't even care if

We have this here in Canada. What happens is that investors buy up the entire unit/condominium/apartment-tower and rent it out. Many of them don't even care if they have 50% vacancy because the investment of the property/land is worth more to them than anything. Lastly, many of these investors are foreign or even money laundering and just want to dump their massive cash flow into some kind of a physical investment (in this case, Canadian land/property). We have whole malls that are just ghost towns sitting in the Northern part of my city that aren't even properly built (incorrect piping/HVAC) to function solely for the purpose of legitimizing money laundering and foreign ownership of Canadian land. Building more housing is good, I won't argue that, but the players in this market are so rich they will just buy ALL of it the moment it appears on the market and our local builders are all so corrupt they would love nothing more than to sign a deal to build 20,000 apartment units and immediately sell them all over to these crooked investors. There are literal video recordings of our 3 major builders bragging to one another about how "they own this city" and "we can keep selling these empty properties forever, the city can't do anything about it" and "if anyone opposes us, we'll show them who owns whose ass". This is becoming so obvious it's ridiculous here. We have had a 15-30% vacancy rate for both business and residential near our downtown sector for the last 3 years during COVID, yet we have a record high of buildings being built. The foreign investment is so huge that they just keep building even when there is no market for the space. They don't care, it's all about moving money out of foreign assets into concrete assets here in Canada. Canada has become the money laundering capital of the world: https://nationalpost.com/opinion/sabrina-maddeaux-canada-became-a-money-laundering-capital-while-ottawa-slept https://nationalpost.com/opinion/sabrina-maddeaux-canada-bec...