Inside the secret finances behind the housing crisis
Posted May 3, 2019 6:46 am.
Last Updated May 3, 2019 8:47 am.
It’s not just the market in your city. Or your neighbourhood. Or your budget or financial situation. There’s a shadowy global financial practice at work that is fuelling the housing crisis in cities around the world. And nobody knows how to stop it.
Today we’ll explore the shady-but-legal practice of private equity firms approaching housing as a commodity for investment at scale, in cities around the world, including Canada. What happens when a dwelling that should be a forever home for a family becomes just a trade chip amongst tens of thousands of others, to be bought and sold solely based on profit margin? Nothing good, you would imagine. And you’d be right. But can cities and governments figure out a plan to stop it?
GUESTS: Leilani Farha, United Nations Special Rapporteur on the Right to Housing; and Fredrik Gertten, documentary filmmaker
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