The Association of Community Organizations for Reform Now (ACORN) recently held rallies across several Canadian cities regarding tenants' experiences of higher rents and poorer maintenance in units owned by real estate investment trusts.
The School of Planning's Dr. Brian Doucet spoke about these concerns, stating that Canada has focused largely on building new housing stock, while "losing sight of the housing that is already affordable."
This housing is often lost through demolition, or through the process of "renoviction", where tenants are evicted, so units can be renovated and rented at higher rates.
The School of Planning's Dr. Martine August's 2022 report on The Financialization of Housing in Canada states that the largest financial firms in Canada hold an estimated 20-30 per cent of multifamily rental units, with that number increasing each year.
More information on this issue and ACORNS concerns can be found in the original article, featured on CTV News.
To learn more about affordable housing models and how Canada can apply them, please refer to Dr. Brian Doucet's August 2023 research report with the Canada Research Chairs.