Profit mongers should have no home in Canada’s housing market

Core Development Group Ltd. announced this week that it intends to spend $1-billion over the next five years to purchase thousands of single-family homes across Ontario, Quebec, Atlantic Canada and British Columbia and offer them as rentals. The Toronto-based company says it is looking to fill what it sees as a hole in the housing market, taking advantage of red-hot real-estate prices that have put homes beyond average family budgets, the competitive rental market and new work-from-home needs.

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