I know why shit is fucked up in Canadian housing.

I work in real estate. (No I’m not a realtor), I just work for them.Realtors will list a property, and then once they get word that a realtor wants to make an offer on it, they will make it sound as though there are multiple offers on the table. This incite blind bidding. A bidding war. Imagine going to an auction but you have to guess how much everyone else is bidding.One such occasion, someone paid $30,000 over asking with not a single other offer on the table. Subject free! Dangerous.That house will then be used as a comp for other homes in the area. This has skyrocketed properties all over.Another situation is realtors are buying properties from their holding companies and signing the right to transfer. They transfer from one holding company to another. They make up new holding companies for new transactions. I haven’t figured out why they do this yet, but there’s a reason. And it’s shady.Major problem is lack of inventory. “People” are buying homes as holding properties from their holding companies. I would say 90% of the transactions I process are actually being bought by holding companies or corporations.Also, people are selling properties to themselves through shell companies and holding them, sometimes buying up multiple properties in a neighborhood.No government will stop this because politicians are doing it too. Real estate is a for-profit business and not a thing to give human beings a place to live. via /r/canadahousing https://ift.tt/3BJl6ti