Canada proposes ban on foreign investors buying houses
Hot housing market is adding to domestic inflation’s record highs
The Canadian government is planning a two-year ban on foreign investors purchasing Canadian homes, as it looks to dampen one of the hottest housing markets among advanced economies.
“Foreign investors and speculators are buying up homes that should be for Canadians to own,” the government said in its 2022 budget on April 7. “For years, foreign money has been coming into Canada to buy residential real estate. This has fuelled concerns about the impact on costs in cities like Vancouver and
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