Canada bans foreign home buyers

[bhardu]

Hi there,
found this on my Reddit suggestions today "https://economictimes.indiatimes.co...years-to-cool-market/articleshow/90717595.cms"
As a perspective PR planning to relocate in later half of this year, I found this as an interesting development looking at the exorbitant home prices post covid.
Do you think this will help cool down the real estate market prices?

 

[steaky]

Only a small percentage of Canadian real estate are own by foreign owners.

 

[figaro2]

Only a small percentage of Canadian real estate are own by foreign owners.

not really true
many investors hide behind shallow companies and flip houses (as for residency)

 

[canuck78]

Hi there,
found this on my Reddit suggestions today "https://economictimes.indiatimes.co...years-to-cool-market/articleshow/90717595.cms"
As a perspective PR planning to relocate in later half of this year, I found this as an interesting development looking at the exorbitant home prices post covid.
Do you think this will help cool down the real estate market prices?

The ban is really for optics and will have minimal impact.