3 ms·
Many Canadians became wealthy via the housing market. Effectively drawing wealth from the mortgaged future potential income of Canada's young first time home bu
by dleslie 3y ago
Many Canadians became wealthy via the housing market. Effectively drawing wealth from the mortgaged future potential income of Canada's young first time home buyers.
Or, just running STRs in the big cities.
- Scoundreller 3y agoDunno about other cities, but City of Toronto proper didn't add any net new hotel rooms from 2000 - 2015. And only up 22% in the "Greater Toronto Area", which is way less than that area's pop'n growth. I doubt things improved as airbnb became a thing. p. 10 here: https://www.toronto.ca/legdocs/mmis/2016/ed/bgrd/backgroundfile-98820.pdf https://www.toronto.ca/legdocs/mmis/2016/ed/bgrd/backgroundf... When your residential construction market is so on fire that you don't even build hotel space, you end up with STRs as a symptom.