Investors for Affordable Cities: An online forum on responsible investment and the financialization of housing
Oct 19 @ 11:00 am – 12:00 pm PDT
Affordable housing is at a crisis point in Canada. Against a backdrop of rising homeownership costs, a shortage of affordable rental units and escalating rents, institutional investors are increasing their allocations to residential real estate through vehicles such as joint ventures, private equity funds and Real Estate Investment Trusts (REITs).
Predatory practices to replace low-paying tenants with higher paying tenants, evictions disproportionately impacting racialized communities and deteriorating conditions in aging buildings owned by institutional investors have been widely documented. While new purpose-built rentals that are attracting more institutional capital are adding much-needed rental stocks, they have been criticized for their unaffordable rents. The financialization of housing is under scrutiny.
With pressure mounting, housing affordability is poised to become a key issue for responsible investors. This educational event will be an opportunity for investors to learn about how the financialization of housing is unfolding in Canadian cities, consider why housing affordability is an issue for investors and discuss what investors can do to begin addressing concerns regarding housing affordability in their portfolios.
- Leilani Farha, Global Director of The Shift and former UN Special Rapporteur on the Right to Housing
- Martine August, Assistant Professor, School of Planning, the University of Waterloo
- Alejandra Ruiz Vargas, ACORN Leader
The panel will be followed by a presentation of key findings and priorities for investor action described in SHARE’s discussion paper Investors for Affordable Cities: Responsible investment and affordable rental housing in Canada.