• pelespirit@sh.itjust.works
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      11 months ago

      I wrote this for a US bill that they’re trying to pass, but it might apply in Canada?

      Corporation Plan

      • Step 1, US has a financial meltdown
      • Step 2, corporations buy up all of the housing at cheap prices, price fix the rentals and use a shit ton of them for airBNBs
      • Step 3, not worry about the empty units or homes because price fixing and airBNBs will fix that
      • Step 4, develop a crowdfunding site so “investors” can get in on the renting/price fixing game
      • Step 5, complain that there isn’t enough housing to get the zoning changed, so they can build “luxury” apartments where they continue to price fix or rent out to tourists/business people because they’re ToTALLy NoT A hoTEl!
      • Step 6, profit, profit, profit

      Common Person Plan

      • Step 1, look to buy a home but there’s not enough supply so the prices go up
      • Step 2, try to save but their rent keeps getting raised because it’s being price fixed and there is a lack of supply (sometimes real because of the tourists)
      • Step 3, continue to rent while nervously waiting to try and build up a deposit and there’s less and less supply
      • Step 4, rent, rent, rent further away from the city core
      • Neato@kbin.social
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        11 months ago

        Don’t forget the mortgage rates are sky high so even people with 20% can’t really afford to buy. Corporations buy for cash.

        • pelespirit@sh.itjust.works
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          11 months ago

          That’s a really good point, what step would that be? Probably Step 3 for corporations. Do you mind if I add it to the list?

      • Skies5394@lemmy.ml
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        11 months ago

        My one hope is that the meltdown is tied to commercial real estate, which will hopefully avoid this whole thing.