Tag Archives: landlords

CKMS News – 2023-11-17 – Reviewing the effects of the financialisation of housing

CKMS News – 2023-11-17 – Reviewing the effects of the financialisation of housing

by: dan kellar

Waterloo – On Oct 30th ACORN, the grassroots social and economic justice organisation with chapters across the country, delivered over 400 tenant testimonials to federal liberal MPs including Waterloo’s Bardish Chagger. This action coincided with ACORN’s national housing spokesperson Tanya Bukart giving testimony to the National Housing Council’s review panel on the financialisation of purpose built rental housing.  Bukart’s testimony highlighted the effects on renters created by the stress of living in a precarious housing market, which has been transformed over the past decades, into an investment industry with profit seeking constantly driving up housing and rental prices.

Today’s show features interviews with Acer Bonapart, the chair of the Waterloo Region chapter of ACORN, and Mike Morrice, the Green Party MP for Kitchener Centre, who has been pressuring the government over the ongoing crisis in the affordability of housing in Canada since being elected in 2021.  Additionally, Geordie Dent of The Federation of Metro Tenants’ Associations (FMTA), which advocates for better rights for tenants, adds comments on the financialisation of housing.

For the purposes of this review, the National Housing Council is using the Federal Housing Advocate’s definition of the financialization of housing which is “the growing dominance of financial actors in the housing sector, which is transforming the main function of housing from a place to live into a financial asset and a tool for investor profits.”  The definition continues “These may include asset management companies, hedge funds, pension funds, private equity funds, real estate investment trusts (REITs), real estate operating companies and sovereign wealth funds.”

The National Housing Council, which refers to reports commissioned by The Federal Housing Advocate adds “The financialization of purpose-built rental housing has been linked to a range of negative impacts for renters, such as evictions, rising rents and reduced building services and maintenance.” On this point the National Right to Housing Network, a grassroots tenants rights organisation also focusing on the national panel explains “Financialization of housing refers to the treatment of housing primarily as a financial asset and tool for maximizing investor profit at the expense of human rights among tenants and tenancy-seeking individuals.”

The show focuses on the financialisation of the housing market, immediate steps which could be taken to start addressing the affordability crisis, and the longer term role of government in creating and maintaining an affordable and quality housing supply to meet the needs of growing populations.


CKMS News – Resisting Renovictions in Waterloo Region

CKMS News – 2023-08-13 – Resisting Renovictions in Waterloo Region

By: MP Holmes

Over the last few months there have been several rallies and multiple media stories on the group of tenants in the residential building at 267 Traynor Avenue in Kitchener, who have organized against an impending renoviction. Their building was recently purchased by a wealthy investor landlord who then issued N13 notices to at least 20 residents in the building and more in another on Ahrens St. in Kitchener

According to the 2023 Housing Hardship Report from the Advocacy Centre for Tenants Ontario, almost half (46%) of renters in Ontario are concerned about their landlord wanting to evict them for some reason.

In Waterloo region, the Report notes that 37% of all tenant households are spending a third or more of their income on housing costs, and a person needs to make at least $24 an hour to afford a 1-bedroom apartment here.

Maribel Jagorin organized the tenants at 267 Traynor Ave., and she talked with CKMS about her situation and fight to save her home and prevent her own and her building’s renoviction.

CKMS news also talked with Jenaya Nixon, who up util recently was an outreach worker for the Eviction Prevention Program within the Social Development Centre. Jenaya was one of the initial supports for the Traynor Ave residents and she talked about how renovictions generally occur and how municipal and regional governments can play an important and meaningful role, regardless of  the provincial and federal initiatives.

Information and support to access if you are facing a renoviction in Waterloo Region:
The Eviction Prevention Waterloo Region at the Social Development Centre:

Easy to access and up-to-date legal information specific to Ontario:

Check out the archived versions of  this program on
radiowaterloo.ca/news., and listen to all the LJI content at canada-info.ca.

If you want to get in touch with comments, or ideas about stories to cover, email us at news@radiowaterloo.ca