Do You Want to Buy a House in Canada? Not So Fast.

Abstract

Canada is enacting a wide-ranging ban on the purchase of residential property by non-Canadians for two years. Canada saw huge price increases for both sales and rentals as borrowing rates plunged to record lows. In Ontario, the provincial government raised the real estate speculation tax for foreign buyers from 20 percent to 25 percent. By mid-2022, prices across Canada had already begun to recede. The measures seemed to be working. But the measures seem to have been working. The measure seemed to seem to be the measures seems to be worked. The laws seemed to have gone largely undetected.