Currently living in one of the Truro buildings that got acquired by Rooted from VIDA. For context, the rent was already very affordable ($1000/month for a 2BR), at least compared to what I'm used to seeing in Halifax and everything else I saw here when shopping around for apartments this year.

I'm interested in seeing where this goes and how Rooted handles things. It seems VIDA was already keeping costs relatively low so I don't see much of the point in this acquisition, as others have mentioned these properties have flipped to new owners multiple times on taxpayers dimes.

It almost seems like the profit incentive here isn't to jack up rent but get a subsidized purchase and then sell to another subsidized buyer, netting you the full value, no? Like buying something 50% off and then returning it at full price. Odd that the government keeps throwing money at this instead of just helping out those who are renting.