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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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..