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Some topics are simply too big to be covered in one column. That's why, over the next two weeks, Max Fawcett will deal with the real estate crisis and the methods we could address it in a series of them. First up was the need for more federal management. Today, it's the speculators.

As he composed, "My story shows it's possible for millennials to buy a house in the GTA and construct a company out of it. I had the ability to achieve this with no monetary aid, albeit utilizing a relatively dangerous investment method." Get leading stories in your inbox. Our acclaimed reporters bring you the news that effects you, Canada, and the world.

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That approach? Hypothesizing on property. He's barely alone in that. According to current data from Teranet, Ontario's land windows registry operator, nearly 25 per cent of homes bought in the province in the first 8 months of 2021 were by individuals who already owned at least another home. In Toronto, that figure was almost 30 per cent more than first-time homebuyers or people moving from one home into another.

This implies the spoils of Toronto's red-hot housing market are being focused into an ever-smaller number of hands, and they're the ones who currently have some of the deepest pockets. And it's not just happening in Toronto: according to data from Equifax Canada, the variety of individuals who took out a 4th mortgage (or more) increased 7.

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That was more than double the boost in first-time borrowers. When  view website  comes to real estate in Canada, the abundant simply keep getting richer. What people are reading This needs to stop. Taxing the huge capital gains collecting in some individuals's primary homes would be one way to do that, but it's also a political cyanide tablet for anyone who tries to even float the idea.