The term “financialization” has significant utility in describing the finance-led housing accumulation that has transformed housing ecosystems in urban rental markets in Canada and beyond. Missing from the discourse, however, is a deeper understanding of the anti-Black nature of financialized landlords’ everyday business and management practices in Canada. The objective of this report is to provide research and evidence to better understand how financialization operates, its impacts on persons who are members of disadvantaged groups, and potential policy and regulatory solutions, particularly at the federal level. In the first section, the report discusses the evolution of financialization in a global context and its impact on racialized people and households who are economically disenfranchised. It then provides a general overview of the rise of financialized landlords, their investment and management practices, and anti-Black impacts, with a particular focus on the role of pension funds. Finally, it presents a case study of the former city of York in Toronto to illuminate the sociospatial impact of financialized landlords on Black renters, before concluding with some recommendations to re-establish housing as a social good.
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The Canadian Observatory on Homelessness is the largest national research institute devoted to homelessness in Canada. The COH is the curator of the Homeless Hub.Canadian Observatory on Homelessness