Posthaste: 'The damage is real' — Foreign homebuyer ban causing upheaval in real estate industry

Play Video

The federal government’s foreign homebuyer ban was designed to improve housing affordability, but a major flaw in the legislation is causing more harm than good, according to the Canadian Imperial Bank of Commerce.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYUnlimited online access to articles from across Canada with one account and fewer ads

Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment onSupport local journalists and the next generation of journalistsSubscribe now to read the latest news in your city and across Canada.

So local developers can do more?

Foreign buyers weren’t causing the real estate/rent prices to soar, lack of supply is…

This article is a clear show that both left and right know Chinese are the masters.

Fine. Whatever.

playing defense for Chinese Communist Party.

So just get canadian investors.

Real estate agents can go suck it..

🤣🤣🤣

Maybe doesn't say enough..no purchases mean just that.

Foreign homebuyer ban..yeah, right. Until dual citizens banned, it’s a waste of time. Especially TO, Vancouver, just reach into the tickle trunk and put on the beaver hat. Oh, and grab some poutine. Toothless law, except actual invaders/launderers for the purpose.

Are you arguing that Canadians should compete against the rest of the planet to by a home in our own country?

Take the short term pain now or massive collapse later.

Canadians taxed to death, then having 6% mortgage interests rates, are having an effect.

Gee Government officials who couldn't make it in private sector screws up plan, makes things worse I'm shocked!

It's climate change trust the science

30 years too late

We will adjust

Lol of kors blame the ban. 😆 😂 could it be the interest that is causing the damage. Global slow economy?

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Posthaste: 'The damage is real' — Foreign homebuyer ban causing upheaval in real estate industryThe language used in the foreign homebuyer ban legislation is stopping real estate development in its tracks, CIBC says. Find out more. What about the damage to the fabric of the nation if the citizens have to compete against the world to buy a home in their own country? 'The damage is real' how short-sighted can you be? The act and its language is good. Canadians cannot compete with corporations or organized crime money laundered in our real estate market.
Source: financialpost - 🏆 7. / 85 Read more »