Toronto-area real estate broker John Pasalis doesn’t see any relief in sight for renters in Canada’s largest housing market.
Pasalis said that even with that pronounced increase in rents, he doesn’t see many new prospective landlords dipping their toes into the market, given the increasing carrying costs of a property due to higher interest rates.
“I think it’s a very challenging market for an investor, I think most investors that I’m seeing are just waiting on the sidelines, waiting to see if prices dip a little further, and we probably will have downward pressure on prices.”
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