The trend of money managers buying single-family homes to rent is “a new phenomenon” for the Canadian market, said Christopher Alexander, president of ReMax Canada. Few other major real estate companies would comment on investor interest in the Canadian housing market. The Canadian Real Estate Association, the trade association that represents real estate agents, declined to comment. Two other real estate agencies, Century 21 and Keller Williams, did not respond to interview requests. (Evan Mitsui/CBC)The rising US dollar compared to the Canadian currency also makes Canadian homes more attractive to foreign investors, Alexander said.

Source: CBC News August 03, 2022 23:25 UTC