The federal government is extending its ban on foreign home purchasing in Canada, Finance Minister Chrystia Freeland announced in a release Sunday.
The rule, which was first introduced in 2022, will now be extended until the beginning of 2027. It bans foreign nationals and commercial enterprises from buying residential property in Canada, with exceptions for some international students, refugee claimants and temporary workers.
I’ve been curious how this would pan out. It sounds good on paper, even a little populist. Have the effects been studied, especially in say Vancouver and Toronto?