New technical report reveals that investors bank tax-free earnings as tenants struggle to pay rent
June 11, 2002 |
Ontario Office
TORONTO---The 4.8 million women, men and children living in rental housing in Ontario remain mired in the province's worst housing crisis in more than a decade. But the bad news for millions of renter households is a virtual goldmine for investors and their financial advisors, including a former assistant deputy provincial housing minister. The province's over-heated rental market is showering them with big returns even as tenants struggle to make their monthly rent. They are buying up rental buildings with moderate rents in Toronto, Mississauga, Burlington, St.