Canada Quietly Rolled Back Parts of Its Foreign Buyer Ban After Just 86 Days
Canada’s foreign buyer ban has been in effect for hours, so it’s time to start loosening it, no? Just 86 days after passing restrictions on non-resident buyers, the country has quietly loosened restrictions for non-resident investors, and temporary residents. Most likely because the ban was largely just a distraction from the speculation coming from inside the House.
The news comes as several voices say Canada needs to increase its housing supply – both to deal with affordability issues, and to cope with high immigration projections.
Last year, the Canada Mortgage and Housing Corporation said more than 22 million housing units are needed by 2030 to help most Canadians reach a price point they can afford.
750,000 housing units were built in the last decade, so sure.
Insane building codes and restrictions that expire and need to be requalified. Just on the jobsite.
Add in government approval everything and at every stage.
You have your carpet install license?
It’s gotten that insane.
Jojo, the country is completely f****d and I didn’t do it.
Trust no one under 45.
3 years is your best case scenario, assuming you can get funding. Right now I’m seeing projects being put forward for sale with a 2027 occupancy target date.
That’s a long time to carry financing before sale, eh? Sure to make the prices go down.
They want the immigrants in tents. That’s what they want.
Every day the federal government proves it is more like an incurable social disease on the body of the nation.
Liberals: the Syphilis of Canada.
Thank you for this apt likening. A good prophylaxis is needed but will never happen as long as the major media are pimping for leftist parties.
22 million new units? The current population is slightly less than 40 million. How many units are built right now?
How many new Canadians are we expecting in the next seven years? Crazy.
That’s alotta CO2
That’s a misread of the article. We need 22 million *total*, and are projected to only have 19 million by 2030 at current rate of construction. They want an extra 3.5 million built over the next 8 years, on top of the 2.3 million projected…
It’s still insane, just not *that* insane.
22,000,000 housing units by 2030 – and with carbon-free concrete I hope 🙂
Justin is not going to upset his financiers and bosses, so …
0.75 million in the past decade, and now the federal gov’t wants +3 million per year for the next decade.
I’m a plumber/gasfitter, so what are the rates for the immigrant’s new houses? If they’re just going to live in tents, then it doesn’t matter to me, but if taxpayers are going to have a problem with these folks living forever in hotels paid for by the gov’t, that’s a different group of folks who’ll be pissed.
The new Canadians are not going to be building these houses, not so many people want to learn a trade, they just want to push paper around on a desk so to speak, or answer the telephone at CRA with their fractured sub standard English. I’ve met people who don’t know how to push a broom never mind which end of the measuring tape to count from. I’m not their dad and the learning curve is a lot steeper than the gov’t thinks.
It’s 4 years to gain a Red Seal cert. for plumbing / gas fitting, (or electrician, and many other absolutely essential trades) assuming you show up for work every day, including the -20 days and your teacher back in Somalia taught you any math.
Also, how are those 2 billion trees to be planted going? seems like a long time ago, almost a decade now and not too many updates on this file.
I’d like a different source for this link, but it seems the CTV will have to do…
https://www.ctvnews.ca/politics/canada-has-only-planted-29-million-of-the-2-billion-trees-promised-by-2030-1.5980036
“It’s 4 years to gain a Red Seal cert. for plumbing / gas fitting, (or electrician, and many other absolutely essential trades) assuming you show up for work every day, including the -20 days and your teacher back in Somalia taught you any math.”
standards are being lowered , everywhere, every day