: Anyone in Canada who is confused about the housing dilemma and lack of supply need only read this article. Canada Pension Plan Investment Board is investing $1-billion in the United States in exactly what Canada needs desperately: single-family rental homes.
If both countries share the same housing problems, I wonder why the U.S. was chosen instead of hometown Canada. After all, the funds are from Canadian investors. Housing Minister Ahmed Hussen thinks “the first and foremost thing is to build housing supply.” I think he should call CPPIB CEO Mark Machin. A conversation might open the door to some much-needed local changes to attract such investment.In conventional financial thinking, Canada Pension Plan Investment Board is making a smart investment in joining the crowd of real estate developers building single-family homes in Arizona, one of the fastest-growing residential areas in the United States.
Scottsdale and Phoenix, in the heart of an incredibly beautiful desert ecosystem, are attractive locations for tech organizations and talented knowledge workers. I was a snowbird there for six years prior to the pandemic. But it only takes one hike up into the mountains to look down and see firsthand the wanton environmental destruction taking place through development centred on single-family homes.
CPPIB is going to be using our money, invested by us in a socially responsible manner, to make a socially irresponsible and unsustainable environmental investment. Large organizations often do a great job of “talking the talk” about green business at events like COP26, while continuing to do business as usual.
Ok but considering the bad guy who fuels the talk of finger pointing in allowing the traditional norms to carry out pending cases; Failures of non-transformative hypocromediacy only graves the intentional neglect of Glynn’s success for the 15 percent. HELL, we got to do better 🤟🏽