A Sold sign sits in front of a house in Toronto on Tuesday July 12, 2022. THE CANADIAN PRESS/Cole BurstonMonday to increase the tax paid by foreign homebuyers 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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We need to stop foreign buyers in light of Doug's announcement 2 homes per home. Foreign buys will take advantage of this.
Affect? English much?
Because foreign money is no longer flowing into Canada..