said Monday it has no interest in investing in single-family homes in Canada, laying to rest speculation the giant global asset manager would scoop up hundreds of Canadian houses and turn them into rental properties.
“It’s just not an area that we are focused on in Canada,” he said in a joint interview with Janice Lin, the new head of Blackstone Canada.The New York-based company, which has US$915.5-billion in assets under management, has been accused of profiting off the 2007 U.S. housing meltdown after it bought swaths of distressed properties and then rented them out to U.S. residents.
“We don’t have a similar platform in Canada and we don’t have the intention of launching one because, from our perspective, we think there are just more interesting places to deploy capital in the Canadian market,” Mr. Meghji said.
Oh so they are only going to exploit and abuse poor people that's nice
How about Canada expropriates and redistributes every Blackstone property without compensation? I think that would be nice.
Imagine if Canada set the rules about owning property in this country, instead of just reacting to whatever the corporate giants decide is best for them. We don't need to play the victim.
'There are more than a million empty homes in Canada and on any given night at least 35,000 Canadians are homeless.'
I don't see a company this size buying SINGLE family homes and managing them. But apartments complexes - much more likely.
Blackstone buys companies that target single-family homes.
They’re lying.
Maybe we should believe Blackstone. Maybe Not.
Government could easily legislate big RE corporations out of Canada, dropping demand. They don't, why?