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Real Estate

Housing Market ‘Gone Berserk’ Stirs Unease Over Investors’ Clout

Investors account for about 20% of new mortgages in Canada and critics say first-time buyers are getting shut out of the market.

Video player cover image — U.S. Housing Went From 150MPH to 120MPH, Remains Strong: Ali Wolf

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June 22, 2021, 1:45 PM UTC

The pandemic helped make Canada one of the world’s hottest real estate markets. With a portfolio of more than 100 houses, that meant a windfall for Brady McDonald.

“My net worth has obviously gone up a lot, just based on what’s happened this year, because the market’s gone berserk,” said McDonald, a former arborist who started acquiring single-family homes in the small city of Barrie, Ontario, in 2015, and now says he has a net worth “in the millions.”