Canada extends ban on foreign ownership of housing by two years
news.yahoo.com
Canada on Sunday announced a two-year extension to a ban on foreign ownership of Canadian housing, saying the step was aimed at addressing worries about Canadians being priced out of housing markets in cities and towns across the country. Canada is facing a housing affordability crisis, which has been blamed on an increase in migrants and international students, fueling demand for homes just as rising costs have slowed construction. "As part of using all possible tools to make housing more affordable for Canadians, the ban on foreign ownership of Canadian housing, which is currently set to expire on January 1, 2025, will be extended to January 1, 2027," Canadian Deputy Prime Minister Chrystia Freeland said in a statement.

(Reuters) - Canada on Sunday announced a two-year extension to a ban on foreign ownership of Canadian housing, saying the step was aimed at addressing worries about Canadians being priced out of housing markets in cities and towns across the country.

Canada is facing a housing affordability crisis, which has been blamed on an increase in migrants and international students, fueling demand for homes just as rising costs have slowed construction.

  • Taleya@aussie.zoneEnglish
    0·
    11 months ago

    Why you acting like we can only do one of these things?

    1. ban company/ corporate ownership of standalone housing.

    2. increased scale of taxation on any property past PPR. One house gets you 10% increase. Two gets you 20%, etc. oh it’s empty? Now you got an empty property tax as well

    3. fuck up developer scarcity. Set hard time limits between land purchase and development / sale. Give land use laws teeth

    • evatronic@lemm.eeEnglish
      11·
      11 months ago

      Why you acting like we can only do one of these things?

      Because it’s a common tactic used to confuse an issue and get the discussion bogged down in irrelevant details and “hah! Gotcha!” moments.