Wealthiest Property Owners Control One-Quarter of Residential Real Estate Value

[Claudia Love]

The report found that owners of multiple properties possess almost one-third of all residential properties and the wealthiest 10 percent of owners control approximately one-quarter of all residential housing value\

Wealthiest Property Owners Control One-Quarter of Residential Real Estate Value

“If you don't change the regulations around housing, if you don't go into taxation rules and all the kinds of structures of the housing market, you won't solve the problem."

www.readthemaple.com

 

[Ponderling]

Well I own one house, that I live in, and have done so for 22 years.

But in my and my wife's investment accounts we do own ETF's known s REIT's - basically a holding basket for real estate.
We use these vehicles own slices of: commercial office towers, industrial distribution warehousing, seniors retirement homes, mobile home parks, and residential apartment buildings.

House is likely worth 1.2M.
All our reit positions added together do not add up to more than 150K.
If that makes me an evil force, so be it.

 

[jeff2]

Landowners love NIMBYS, greenbelts and massive immigration.

 

[Claudia Love]

Steven Harper started all this 'investment' & 'money laundering' in 2008 plus when he did his backroom deals with China & other countries federally. The provincial CONS supported this, & their buddies bought real estate -- look at all the real estate investment in BC by China. Look at Drugie Fraud's buddies buying up most real estate & he's building Highway 413 for them to build beside!! They already bought up the land!!

 

[H82Wait]

This has been happening for as long as I can remember, 1 thing that we cant make more of is vacant land. My grandfather, many years ago, bought land in cottage country on the water at literally $1000 each. Yes this was expensive years ago but ended up selling it all about 4 years ago and pocketed just over 8 million. Good investment for sure. I myself own 3 houses and 1 I live in, 2 of the 3 paid off outright. I bought about 7 years ago so return will be a good investment. 1 thing I don't have is anything in RRSP. At the age of 35 I realized that the ROI is much better in real estate then in an RRSP.

 

[xix]

Steven Harper started all this 'investment' & 'money laundering' in 2008 plus when he did his backroom deals with China & other countries federally. The provincial CONS supported this, & their buddies bought real estate -- look at all the real estate investment in BC by China. Look at Drugie Fraud's buddies buying up most real estate & he's building Highway 413 for them to build beside!! They already bought up the land!!

I am not surprised. Can't we have Doug / friends charged for this?

 

[Gntlmn1]

Is owning property becoming a thing of the past. Lots of people sell in a robust market to generate enough cash to cover their rental costs and then live free of property maintenance issues. The problem with not owning the property you occupy is ultimately you have little or no control and getting evicted is no fun.

 

[Ponderling]

... I myself own 3 houses and 1 I live in, 2 of the 3 paid off outright. ... I don't have is anything in RRSP. ...

I sold other assets in my RRSP back in 2007 and then spent about $2k setting up paperwork so my RRSP could used cash to buy a mortgage as an asset.
It just happened that the mortgage was for my own house; it could have held any mortgage.

The nice part of this was day to day me paid monthly mortgage payments, and the interest portion went to my retirement me ( my RRSP), and not to a bank.
Then I paid it off early and day to day me had to pay a 'penalty' for the right to do so. The penalty was a way to legally stuff more money into my RRSP.

 

[y2kmark]

Landowners love NIMBYS, greenbelts and massive immigration.

Why do landowners love massive immigration? Seems I remember that didn't work out for the Romans...

 

[Mencken]

The report found that owners of multiple properties possess almost one-third of all residential properties and the wealthiest 10 percent of owners control approximately one-quarter of all residential housing value\

Wealthiest Property Owners Control One-Quarter of Residential Real Estate Value

“If you don't change the regulations around housing, if you don't go into taxation rules and all the kinds of structures of the housing market, you won't solve the problem."

www.readthemaple.com

I'm assuming this includes apartments, as apartments are certainly residential property. If so I would be surprised it is this low. Apartments are almost all owned by larger companies.