Canada bans foreign home buyers for two years

Re:Canada bans foreign home buyers for two years by refurb on Tuesday April 19, 2022 @10:51PM (#31092266)

They never started collecting actual citizenship/residency data on house sales until a year or two ago. I remember one analysis out of UBC that assume foreign owner if they has a "foreign sounding name".

From what I've seen, some neighborhoods are high, but it's at the margin. Canadians snorfing up massive amounts of debt in order to acquire more property is a bigger driver.

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Re:Canada bans foreign home buyers for two years by Tiktaalik on Wednesday April 20, 2022 @12:14PM (#31099154)

Yes around 2016 they finally started gathering real data and it was so remarkably high in certain areas they brought in the foreign buyer tax. It only took like a month of data before the government, which btw long dismissed that there was any problem, was convinced that there was a real problem.

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