Bloomberg Tax
Free Newsletter Sign Up
Bloomberg Tax
Free Newsletter Sign Up

Trudeau Vows 2-Year Ban on Foreign Home Buyers If Re-Elected (2)

Aug. 24, 2021, 4:14 PM

Prime Minister Justin Trudeau promised to introduce a two-year ban on foreign home buyers to tackle housing affordability in Canada if he’s re-elected.

The proposed restriction is an attempt to cool a housing market that has soared during the Covid-19 pandemic. Surging prices have become a central issue in the campaign for the Sept. 20 vote, in which Trudeau hopes to regain a majority in parliament, with all three major parties promising crackdowns.

Justin Trudeau.
Photographer: David Kawai/Bloomberg

“You shouldn’t lose a bidding war on your home to speculators. It’s time for things to change,” Trudeau said at a campaign event in Hamilton, Ontario, ...

To read the full article log in. To learn more about a subscription click here.