Aashish 301380141 Project 1 Assignment

doc

School

Centennial College *

*We aren’t endorsed by this school

Course

171

Subject

Economics

Date

May 31, 2024

Type

doc

Pages

Uploaded by SuperHumanTeamPorpoise42

Project 1 Process Assignment 5% 1. Title of the source for the Critique Essay Why are we building more housing for investors? By Guilio Bordignon 2. Argument Breakdown Break down the argument of the source. Issue: Increase in the number of the investors, including corporations in the housing market which ultimately led to the increase in the housing prices making it hard for the regular citizen to afford them. Thesis: The Government should properly address the demand side of the housing market to diminish the investors activity on housing prices and affordability. Reasons and Evidence:  Core Development and its $1 billion fund to purchase single-family homes to rent them out clearly indicates the dominance of the investors.  REITS intensifies the affordability challenges for normal citizens by increasing the prices of housing and making it difficult to save the required amount for the down payment as shown by the long duration of time needed to pile up the fund mainly in the cities like Toronto. 3. Reverse outline

Para 1: Single-family home purchases by growing a number of corporate investors, like Core Development Group, drive up prices and decreases supply for individual buyers. Para 2: Even while the US has taken steps to prevent these kinds of activities, other countries may be able to ensure that more homes are available to people rather than businesses by putting similar regulatory restrictions in place. Para 3: Realtor guarantees and short-term rentals like Airbnb drive up housing costs and reduce the amount of available properties-all without the need for further regulations. Para 4: REITs are depleting Canadian renters’ savings, requiring 6.5 years to save from a downpayment nationwide and 26.5 years in Toronto. Para 5: Corporations and investors are treating housing like a private stock market, prompting the need for the government intervention to address demand and price effects. 4. Full Summary Summarize your selected source in the form of a paragraph of about 100 words. The government’s narrow focus on increasing housing supply begs the question of why a major amount of this new housing is being created for investors rather than for ordinary buyers. The number of corporate investors purchasing homes is rapidly growing, which is increasing demand and reducing availability. Core Development Group, which has a $1 billion fund for the purpose of purchasing single-family houses to rent out, is one such investor. Realtor assurances and short-term rentals like Airbnb drive raise housing costs and reduce the amount of available properties. On the other hand, Canadian tenants’ money is being gobbled up by REITs; in Toronto, saving for a downpayment now takes 26.5 years. Manipulation of homes by corporations and investors seeks the immediate action from the government.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Related Documents

Tutorial Wk 8 Simple Linear Reg.pdf

CH6 25-26.PNG

CH6 33-34.PNG

Misty__Smith_HIS_200__Applied_History (2).docx

Econ+15B+--+6+--+Final+--+March+16%2C+2022 (1).docx

Assignment 6.pdf

hw7.pdf

HW2.pdf

PATCO and the Ramifications for Unions.docx

lab six.docx

PPD Assignment 1.docx

Active Learning 1_JAydensAHAynes.docx

Recommended textbooks for you

Managerial Economics: Applications, Strategies an...

Economics

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:Cengage Learning

Microeconomic Theory

Economics

ISBN:9781337517942

Author:NICHOLSON

Publisher:Cengage

Managerial Economics: A Problem Solving Approach

Economics

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Cengage Learning

Economics Today and Tomorrow, Student Edition

Economics

ISBN:9780078747663

Author:McGraw-Hill

Publisher:Glencoe/McGraw-Hill School Pub Co

Economics:

Economics

ISBN:9781285859460

Author:BOYES, William

Publisher:Cengage Learning

Micro Economics For Today

Economics

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Cengage,

SEE MORE TEXTBOOKS

Recommended textbooks for you

Managerial Economics: Applications, Strategies an...
Economics
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:Cengage Learning
Microeconomic Theory
Economics
ISBN:9781337517942
Author:NICHOLSON
Publisher:Cengage
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co
Economics:
Economics
ISBN:9781285859460
Author:BOYES, William
Publisher:Cengage Learning
Micro Economics For Today
Economics
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Cengage,