Trudeau’s proposed restrictions on dwelling purchases by non-Canadian consumers are geared toward enhancing affordability. Canadians have lengthy chafed at tales of Chinese language and Hong Kong buyers shopping for up property in Vancouver, bidding up values there and in different cities, and in addition at overseas hypothesis in cheaper housing choices. Toronto and Vancouver have already imposed a 15% and 20% tax, respectively, on dwelling shopping for by foreigners. With housing costs nonetheless persevering with their surge, Trudeau is looking for a two-year ban on such purchases.
https://www.washingtonpost.com/enterprise/trudeaus-populist-pose-could-hurt-canadas-economy/2021/08/30/612d90b2-099b-11ec-a7c8-61bb7b3bf628_story.html?utm_source=rss&utm_medium=referral&utm_campaign=wp_business | Trudeau’s Populist Pose Might Harm Canada’s Financial system