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A comment on Canada bans foreign home buyers for two years. Parent comment

Re:Canada bans foreign home buyers for two years by breakfastduck on Tuesday April 19, 2022 @07:30AM (#31081754)
This is literally nothing to do with it. It's to do with wealthy foreigners buying properties and leaving them empty basically to use as an 'asset' rather than a home.

London has this problem more than anywhere. Blocks full of purchased and empty while locals can't get a sniff.

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Re:Canada bans foreign home buyers for two years by ryanbrunner on Tuesday April 19, 2022 @07:43AM (#31081860)
That is by no means the entirety of the housing problem in Canada. Foreign ownership is a very small part of the Canadian housing market, and with no other measures, Canadian investors will happily scoop up foreign owned properties. I doubt this by itself will make a significant dent in the market.

What we need is foreign ownership taxes / bans combined with heavy taxes on ownership of multiple single-family dwellings and townhouses.

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