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Trudeau Pledge to Tax Vacant Homes May Not Go Far Enough

Aug. 25, 2021, 4:00 PM

There’s little chance Justin Trudeau’s proposed 1% tax on vacant homes will improve affordability in Canada’s drum-tight real estate market, though it may win his Liberal Party some votes, analysts say.

The Finance Department released details of the planned levy earlier this month, days before Trudeau called a fall election. A key issue for Canadians heading to the polls is the increasingly difficult task of finding an affordable place to live.

Home prices across the country rose by the most since 1989 in the second quarter, National Bank Financial reported this month. Affordability deteriorated ...

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