The Missing Middle with Mike Moffatt and Sabrina Maddeaux REITs, Rent & Rage: Canada’s Housing Tug-of-War
Jul 30, 2025
The hosts dive into the contentious role of REITs in Canada’s housing crisis. They explore whether REITs are hindering affordable housing or if deeper issues are at play. A fascinating paradox emerges: people want rental options but resent landlords. The conversation highlights the economic factors influencing housing development and the debate over government vs. private sector responsibilities for affordable units. Listeners are left pondering who should truly own rental housing in today’s landscape.
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Mix Of Landlords Matters
- A healthy rental market needs a diverse mix of owners including mom-and-pops, corporations, and REITs.
- Sabrina Maddeaux argues dominance by any one owner type reduces renter mobility and pushes rents up.
How Canadian REITs Function
- Canadian REITs are publicly traded mutual fund trusts that must distribute profits to unit holders.
- Mike Moffatt points out this structure makes REITs reliant on debt and different from regular corporations.
REITs Are A Small Share
- REITs own only a small share of purpose-built rental units in Canada, roughly 6%–10%.
- Most rentals remain owned by corporations, pension funds, and individual investors, so REITs are not the dominant force.