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National Day of Housing: Rein in the REITs
February 3, 2021 @ 2:00 pm – 3:30 pm
Facebook event: https://www.facebook.com/events/439391947248906
Have you heard about REITs? REITs or Real Estate Investment Trusts are big landlords that are booming in Canada and elsewhere in the world. In fact, they made more money despite the pandemic!
The problem? These landlords are making several millions of profits not only because the government allows them to raise rents and/or not to fix the units but most importantly, because the Trudeau government does not tax them! We have estimated the government is losing billions of dollars in tax revenue (in the last 10 years) by giving these subsidies and tax exemptions to REITs.
It’s time that REITs like CAPREIT, Starlight Investments and others are Reined IN!
Therefore, on February 3rd ACORN members across the country are demanding the federal government to close this tax loophole and put back the money to save the affordable housing stock.
Join us!
WHEN: February 3rd, Wednesday
In Person Actions, See here: https://acorncanada.org/civicrm/event/info?id=2595
Virtual Phoneblitz, TIME: 1 PM EST
HOW TO JOIN? Register here: http://bit.ly/DayOfActionACORN
DID YOU KNOW? Each year the federal government’s co-investment fund builds 6000 units and CAPREIT, Canada’s biggest REIT, alone flips approximately 14,000 to get the maximum rent possible, pulling them out of more affordable priced units.
We can save our affordable housing by Reining in the REITs!!!
