this post was submitted on 04 Feb 2024
38 points (97.5% liked)

Canada

9658 readers
841 users here now

What's going on Canada?



Related Communities


🍁 Meta


🗺️ Provinces / Territories


🏙️ Cities / Local Communities

Sorted alphabetically by city name.


🏒 SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer


💻 Schools / Universities

Sorted by province, then by total full-time enrolment.


💵 Finance, Shopping, Sales


🗣️ Politics


🍁 Social / Culture


Rules

  1. Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca


founded 4 years ago
MODERATORS
 

Also known as bankruptcy protection, it means any legal action taken by lenders to recoup their money has been paused so the landlords can attempt to save their business. Documents say 32 lawsuits are currently filed against the corporations in courthouses across Ontario.

The landlords and their corporations are based in the Hamilton area, but specialize in buying, renovating and in some cases relisting "distressed residential real estate in undervalued markets," said a court factum.

you are viewing a single comment's thread
view the rest of the comments
[–] wildbus8979@sh.itjust.works 1 points 1 year ago (1 children)

Nothing in this article points to foreign investors. Do you think rich Canadians don't launder money or something?

[–] BedSharkPal@lemmy.ca 0 points 1 year ago

I think when you look at the demographics of the area, along with the fact that money laundering is known issue, along with the very well known affinity of the Chinese for property as an investment (see Evergrande et al), and yeah it's not hard to connect those dots.

The unfortunate part is it's hard to get stats to back it all up because of a failure of governance for decades at all levels of government.