Ottawa unveils new housing measures to slow foreign real-estate investment

The Globe and Mail

 

Finance Minister Bill Morneau unveiled measures on Monday aimed at slowing the flood of foreign money into overheated housing markets as well as strengthening a mortgage rate stress test.

Mr. Morneau announced he is closing loopholes relating to the capital gains tax exemption on sales of principal residences.

He also said there would be standardized eligibility criteria for high- and low-ratio insured mortgages, including a “more robust” mortgage rate stress test.

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