The trend of money managers buying single-family homes to rent out is "a new phenomenon" for the Canadian market, said Christopher Alexander, president of ReMax Canada. Few other major property firms would comment on investor interest in the Canadian housing market. Industry denies pushing up pricesDespite the lack of hard data, institutional investors recently made headlines in Canada. "We continue to have no intention of investing in the single-family housing market in Canada." Evan Mitsui/CBCThe rising U.S. dollar compared to Canada's currency also makes Canadian housing more attractive for foreign equity investors, Alexander said.

Source: CBC News August 03, 2022 20:59 UTC