100 Democrats out of 100 democrats call this Xenophobic when the move is made by a Conservative.
It’s a 10G penalty fuxk who can’t afford that from China
Always blame immigrants for your weakness!
“Experts” from the real estate industry? Next ban large scale operations like Blackrock.
Yes, absolutley however to the detriment of all sellers not needing to replace what they sell.
Nope & it should be ban for life…
Josefow, To boost their available housing stock, Canada is going to shut out foreign purchasers.
Sounds like a liquid waste story to me
Right. Now do a permanent ban on their 20 cousins and shell companies.
Utter bs. Foreign sales are such a small percentage of sales it is insignificant and certainly doesnt make housing affordable.
It won't.
What what another biggest joke from the Canadian government
it will only result less income for many canadians
Not only is that a false statement but it’s deliberately spreading the dreaded disinformation. This article was paid for by our federal government.
DefundCBC TrudeauMustGO GreatReset
The ban should have happened years ago, the damage has been done, it’s too late now
They will simply create a Canadian based shell company to make real estate purchases. This means nothing without proper due diligence.
Foreign ownership represents less than 4% of home sales they aren’t driving this. It’s a supply issue—gov’t needs to get their sh*t together with permits and make it easier for companies to build. But also the reality is we have limited land. Supply will always be an issue.
How is it going to make a difference when there are more people coming to Canada than houses being built. How much land will you destroy to expand city’s for more people.
now do something about the ones they already stole from us
Keep the interest rate 10%+ for at least five years to cool down the house price and correct people's expectations on the growth of house prices. It will be painful, but it is worth it.
How does this solve the housing shortage and sky rocketing prices when the percentage of foreign buyers is 5-6%
What crock of crap! It is not the number of homes available but the fact that most people don't have the money to buy a home after the singh/trudeau government rapes their paycheck!
Should forever not just two years!
Lol...oh ok
Great idea, however we probably need about 5 years before we can balance it out and lastly how about taxing these foreign buyers a lot more than 15% how about 30%
Nope
This expectation is so ridiculous but the kook-aid cult will lap it up
Long over due
Why would foreign workers and students need to purchase property? If they are temporary residents they should rent. This is a stupid loophole that will be exploited which makes this just another smoke and mirrors exercise by the Liberal Government.
DefundCBC ZelenskyWarCriminal TrudeauDestroyingCanada DiedSuddenly CanadaIsBroken
Hahaha
The interest rates will drop the price of housing, But will prevent first time buyers from being able to afford none the less. No sence freaking out the foreign market. Big mistske, again.
It will not.
Sure it will 🙄
Doubt it.
Don’t think so. In our market most homes purchased were well over $1m. No realimpact on local market
My rent just went up $150/month so…
No
More Liberal unfunded bull sh&t
That ship sailed about $2 million per square foot ago. Can they explain what the purpose of rent caps were from back in the day? Why did Canada used to use them and how did they get this under control in previous ages (circa black and white photos with wheelbarrows full of cash)
Wait, the penalty is only a $10 000 fine? on a million dollar home, you can just roll that into the closing costs and not even notice, how on earth is that a deterrent?
Should be ten year ban
Permanent ban on foreign ownership of any housing. Rent control and price thresholds on those renting out homes and rooms. Mandatory use of government created/provided rental agreements for private home and room rentals.
This is way too late. Should have been done years ago.
The damage is already done to the market this is a bandaid. Also stop hedge funds and companies like Blackrock from purchasing homes and renting out to people.
You’re about a decade too late.
Too late for that. The damage has been done already. This should have happened 30 years ago
Will not improve anything. Always a loophole that will get used.
CBC you suck. Liberals caused this problem and are not making it better. Tell the real news.
Not likely lol
The very least the government could do, how about no foreign ownership and protect Canadians not appease those hiding money in foreign lands.
Nope, let's be realistic and face the facts, this won't make it any easier for anybody who dreams of owning a house in Canada. Too little action from the government, too late; salaries will take years to reach home ownership affordability levels.
CMHC could make better policy of only insuring Canadian tax payers. This would mean that people who work here can buy based on their locally earned incomes. People who use offshore income would have to get mortgage insurance somewhere else at much higher premiums. More fairness
😂😂😂😂😂😂😂😂
Is Chrystia Freeland creating a tempest in a teapot? According to a 2022 survey conducted for CMHC, foreign buyers of condos in Toronto accounted for 2.4% of total sales and in Vancouver 2.3%. Not sure how a ban will increase the affordability of residential properties in Canada.
no, it won’t
Will have zero effect if REITS don't do the same thing. Oligarchs will still be able to launder their money in Ontario through REITS. End them. End the capacity to hoard wealth in the real estate market.
Houses will never come down to affordability. Builders love the half million profits. Nothing will change that
🤣😋.. sure it will
Won't work. Relatives already here will buy for them.
Please
There are more loop holes in this than swiss cheese. This doesn’t ban anyone
Narrator: It won't
3.4 million followers eh CBC?
*It will make it easier for Cdn corporations to hoard all the houses. They could do something that would actually help, like banning profits, the ownership of multiple properties and corporations from buying houses, but they won’t do it because it would hurt them financially.
CBC is a trash propaganda spreading government boot lickers Trudeau gives them 1.2 billion of your money every year so they keep the public “informed with the information they deem appropriate”
No it won’t.
Why for ONLY two years?!!!! Housing should be a main priority for our Government with the homeless crisis and for people like me who cannot afford to buy a home.
Not if mortgage rates keep going up because of the liberals/ndp inflation people will be throwing their keys back to the bank when they have to renew their mortgage
Nope
Why don't you report the corruption that the Liberals continually do
Foreign Buyer......Tell you what; you buy the property now and I will take it off your hands for a small fee when this blows over.
🤣😂🤣😂🤣😂🤣😂🤣😂🤣😂🤣😂🤣😂😂🤣😂🤣😂🤣😂🤣 the base has already been set. Git looks like your doing something good but the damage is already done.
Funny! They will find ways around it 🤣
Ya about 10 years too late. Canada can su k my d k. Will be moving to Europe once I get my ducks in a row. Ironically it's where I was born, my parents immigrated here when I was young to find a better life. I'm in my mkd 30's and there is no hope for anything here- moving back
Ah yes. Because foreign buyers are always purchasing average, affordable houses. 🙄
This liberal foreign buyers ban is a total joke Just like Trudeau !!! So many exemptions it's not worth the paper it is written on !!!
No way. Far too many loop holes and work arounds. I know one landlord who buys homes, rents them out. Bankrolled by Chinese overseas. Says he bought the latest house for his son. How convenient if he had a son.
Ridiculous! Reduce building restrictions so developers build more housing! Its not complicated
Most foreign buyers have Canadian citizenship.
So when the market is crashing lets really crash it... dingbats.
It ok, they’re taxing me more on my pay check and at the grocery store so I still won’t be able to by one 👍🏻
Expropriate the landlords and cap rents at 10% of ones income. Nationalize the banks and landlord corporations to guarantee housing as a right, not a commodity.
It won't. This is a name sake 'ban' that doesn't target buyers who are actually exacerbating the situation.
You should be worried, someone kicked you a$$ on the TV today. Liberals + Election =LOSERS
Just a few necessary ideas: ban residential units from being turned into profitable room by room student housing. Force the schools to build and provide their own accommodations with the millions they receive in profit a year. Ban air b and bs and increase vacant property taxes
It's a good thing there's no companies in Canada doing any of that nasty stuff
That horse already bolted the damage is done
I don’t see any Canadian buyers buying luxury $5 million plus houses…
No it won’t
Exemption for international students... Ha! I bet half of the $2M homes in the GTA are sold to international students.
Yeah, nothing like closing the loopholes after the damage is done! 😡
Just crash the economy already and start over, NO One just starting out can afford a house right now!
100% wrong.
If Canadians cannot buy in their country than they (foreigners) should not be able to buy in ours. Farmland should be available only to legitimate Canadians and not purchased through proxies.
No because we import half a million people a year
With the interest rate like it is now? You are kidding right?
And 2 years is going to do it huh!.....
Bidding wars.
Immigration is critical for a country to maintain a healthy balance, however it should never be at the expense of those who came before them. These actions are moot, its too late as the floor price is too high for most. Never forgot the government was complicit all these years
Or they could fix their monetary policies that caused the inflation in the housing marketplace in the first place. This is too little, too late. Perhaps you could ask your Liberal paymasters what happen to the excess 1/2 trillion $ they borrowed?
Real estate and housing policy experts are unconvinced it says so I'd like to know where gov get their info from, wait a min, themselves. Between the drama teacher and journalists, they know what they're at lol
I imagine a lot of people are going to not be able to afford their mortgages/rentals soon. We're going to see a lot of people become homeless or move out of our country in search of a more affordable life. Canada's going to be left with no working class, just a bunch of elites.
Until they see the interest rates
please report properly on the multitude of loopholes. stop lying
Lol
Government is wrong. They purposefully destroyed living Standard of Canadians by inflating properties to the point that no one can afford even Renting. Buying is a Dream for most people now. Check the Salaries people get and the Mortgage payments required.
Where are all the 'I admire China' turnips? Way to go, Mr. Trudeau. Wouldn't give them Meng, shut down their 5G, wouldn't give them anything for the two Michaels. Now this. Worst puppet ever.
'Houses should be homes for Canadians to live in and not an investment asset for foreigners.' But it's fine if they're assets for 'Canadian' (ie: domestic and int funded) rental companies?
Foreign buyers make up such a small % of the market, its funny people act like houses being bought up with cases full of cash. It'll be funny when this has no effect
LOL yet still no ban on foreign owned mega corps buying up homes by the tens of billions and then turning around and renting them out for astronomical prices.
Lol Trudeau has so many loop holes in this two year ban it’s totally useless
Cool story. Now if they would stop making absolutely everything else more expensive with Justinflation
We all know it won't make a difference.
Not if you bring in 1 million people
2 year ban with too many loopholes 😂
No it won't.
You shouldn't be able to buy any resindetial property unless your a Canadian citizen.
The federal government says a lot of BS that really means absolutely nothing. They don’t care about affordable housing, or affordable living, they just want to tax us more. Wait till you see your natural gas bill in 2023
Never trust the government 😴
Too many loopholes in their 'ban' on foreign buying
haha wont change anything but interest rates could, and you know the libs will take credit for it
It should be a permanent ban. There should also be seizure of all: foreign-owned residential property; commercially-owned single family residential property; and weatherized second homes regardless of ownership. Auction it off to first time homebuyers at 30-year fixed 4% terms.
How? It's still domestic speculation that's driving cost up.
BS. they will use locals.
2 years? How about complete ban u tik Canadians can buy a home where they live. Especially Vancouver, where I could be afford to live in someone’s basements. That’s the reality for most Canadians
As they make many other things more unaffordable
Because the federal government always gets it right !! 😂😂😂😂🤡
State sponsored news
No Just cheap liberal propaganda!
Bit late lol
Its a Fine, not a Ban. Fine is rather small so wont do much to stop foreign people from buying houses here.
Foreigners impacted specific areas like Vancouver and Toronto. The article dilutes their influence across the country. Curious if Americans will impact prices in Alma and Shediac. Neither are affected as outside the Moncton CMA.
Lol it's too late don't you think 🤣
$10000 is chump change to a millionaire/billionaire Chinese national. It’s a handbag. Zero foreign ownership unless permanent resident/citizen. Change permanent residency to actually make it permanent not 2 out of 5 yes which is a joke.
There's a $10k fine if caught doing it. That will deter wealthy foreign investors, especially when our dollar value is sinking like a rock.
What a joke. Two years Should be a permanent ban immediately. Other countries do it, Canada should too. That would stabilize the market imo.
It’s a checkmark policy not a solution so don’t put your make up on yet
Lmfao liberal media forgot to mention the massive loophole. They can just send their kids to Canada for school and they can buy the property. So this 'ban' is meaningless and does nothing. TrudeauIsDestroyingCanada
🤣🤣🤣🤣worst thing, they actually believe it. What will make things more affordable, whatever that means, is lower interest rates and lower inflation.
This will make no diff, not because of the loopholes but because foreign buyers aren't really a big % of the market. Banks also increase the money supply (ie inflation) when they lend. Raising the banks reserve rate would have more impact on house prices than any of this.
Canada has become a scary autocratic country. The government should have NO SAY on who I want to sell my personal/private property to. Especially at times like we are seeing today WHICH THEY CAUSED!
yawn, nope, but raising interest rates will... bankofcanada raise 100bp you COWARDS
Sorry Canadians... it starting to look like squatting will become a real thing... too bad... this used to be a great place to raise a family.
* 1.Except if the ‘foreigners’ are Chinese nationals students 2. If they can pay in cash
Canadians can't afford the interest rates. This government is out of touch.
No Foreign buyers, they just climb the rate and the market got cooled. Then they are pretending that they control the market by that law.
No it won’t. Nothing changes until Trudeau stops writing debt bonds for the BoC to sell on the open market. Easing tax burden would be a big help too.
Should have happened when interest rates were lower. Like others said, damage is already done, people will find loop holes.
Ya, good one.
Won’t work. Too many loop holes.
Stop corporate purchases of residential single family homes. Big issue. Stop any foreign buying unless PR. Slow immigration (to 200K/year) Heavily tax empty homes.
😂😂😂
No it won’t. All sellers who bought in high on multiple bidding wars & can’t afford new mortgage rates, along w/ inflation need the most $ they’re not taking a loss & the realtors want commission.Both of them haven’t got the message yet keeping prices high. Market needs to tank.
Nonsense. By exempting international students & foreign workers the ban is much less effective than it ought to be. As usual, the government wants the public to think that it's taking effective action while in fact, not much will change.
they acted way to late.....
foreign sales is reason why cost so high. I have given up buying a home in Canada my plan is to buy in USA. Canada real estate properties not worth the cost. renters should leave the major cities until rent prices decrease to an affordable rate. Cant wait to move out of Montreal
So easy, if you already have: 🔸Huge down payment saved up 🔸Can pay min 1/2 monthly salary on mortgage 🔸Guaranteed you won't be laid off, fall ill, etc. 🔸Young, and have 35 yrs to pay off a mortgage. 🔸Willing to pay $600K + for cardboard condo
I highly doubt that.
Make it an actual ban and make it permanent.
🤣
Trudeau says a lot of things: pretty much all lies. Reported on and endorsed by the CBC. Pathetic.
Let’s all get fraudulent mortgages.That’s how they do it right CBC
currently it would take a millennial an average of 20 years to save for a down payment. how is a 2-year ban that can be easily worked around going to help?
Need to ban rental companies, those are the problem. This is a joke...
Make it easier for New Canadians to afford homes.
They barely banned any when you read the stipulations.
A ban on foreign home buyers still has loop holes in it?
Lol no it won't. The amount of loopholes in there is ridiculous. It's effect will be negligible. Our govt is more concerned about upsetting their gravy train. Why should the whole town of Fernie BC just be exempt? Lol just a joke.
So just wash money under a different name then? Won't make a dam difference
And now they have to file a tax return.
Not a ban if they can just go to a different city and Jack the prices up again. Again this government shows how incompetent it is.
Its only for people not physically living in canada. Any foreign can move here still and buy a home the same day..
Explain how a $1 mil home, will become 'affordable' in two years? What is 'affordable' anyways?
Need longer. 5 years
Does this mean the government will evict the CCP from BC and redistribute home in Vancouver to locals
IT IS NOT A BAN. It's a fine of $10k....hardly worth the effort the liberal_party and JustinTrudeau put into it...
I’ll take two please.
Big deal. Foreign investors can just open a numbered Canadian corporation, and Justin's your uncle.