Ontario's foreign buyers tax hike won't have much affect on already cooling market: experts

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Housing industry observers say Ontario's surprise move Monday to increase the tax paid by foreign homebuyers to 25 per cent won't have much affect on the province's already-cooling market.

to 25 per cent won't have much affect on the province's already-cooling market.

Porter says that means a higher tax won't quell the market and he questions the timing of the decision because sales and prices are already down from pandemic highs.

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Should extend it to resident buyers as well

Condolences, Toronto

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