Canada extends ban on foreign ownership of housing by two years
news.yahoo.com
Canada on Sunday announced a two-year extension to a ban on foreign ownership of Canadian housing, saying the step was aimed at addressing worries about Canadians being priced out of housing markets in cities and towns across the country. Canada is facing a housing affordability crisis, which has been blamed on an increase in migrants and international students, fueling demand for homes just as rising costs have slowed construction. "As part of using all possible tools to make housing more affordable for Canadians, the ban on foreign ownership of Canadian housing, which is currently set to expire on January 1, 2025, will be extended to January 1, 2027," Canadian Deputy Prime Minister Chrystia Freeland said in a statement.

(Reuters) - Canada on Sunday announced a two-year extension to a ban on foreign ownership of Canadian housing, saying the step was aimed at addressing worries about Canadians being priced out of housing markets in cities and towns across the country.

Canada is facing a housing affordability crisis, which has been blamed on an increase in migrants and international students, fueling demand for homes just as rising costs have slowed construction.

  • ZK686@lemmy.worldEnglish
    51·
    11 months ago

    I live in an area in Central California, and almost all the new houses are being bought by Indians from India. Like, how the fuck are they doing it? My wife and I have saved our entire lives to by a home, and we’re barely doing it. Meanwhile, all my neighbors are Punjabi Indians in their mid 20’s…it’s crazy.