(Reuters) - Canada on Sunday announced a two-year extension to a ban on foreign ownership of Canadian housing, saying the step was aimed at addressing worries about Canadians being priced out of housing markets in cities and towns across the country.
Canada is facing a housing affordability crisis, which has been blamed on an increase in migrants and international students, fueling demand for homes just as rising costs have slowed construction.
Canada will do nothing about its housing crisis.
Yes there are too many immigrants, but they have been imported deliberately by the Canadian government to keep the housing bubble alive and to suppress local wages.
Foreigners also make easy scapegoats for the housing crisis, when the “crisis” is really just a depraved economic scheme.
Corporate ownership aside, owners outnumber renters in every province. Canada has a large population that will not support affordable housing.