Canada joins fight to cool elevated home prices

Bloomberg
Canada joins fight to cool elevated home prices
Canada’s westernmost province, British Columbia, enacted a 15 percent tax on foreign home buyers in Vancouver, the country’s most expensive market. It’s the latest move by government leaders to tame booming housing prices in the country, which also are sweeping up in Toronto. The tax is intended to make housing more affordable in Vancouver, but critics say it doesn’t go far enough and early data shows prices and sales were already cooling. Foreign buyers, it turns out, are only one reason prices continue to rise, though slower than last year.

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Michael James

Michael James

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CENTURY 21 Capital Realty Inc., Brokerage*
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