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B.C. budget—housing plan anything but ‘comprehensive’
The B.C. government’s 2018 budget was widely expected to include measures aimed at housing affordability in the province’s most expensive real estate markets. Unfortunately, the measures announced continue to target the symptoms rather ...
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B.C. throne speech—government vows action on high house prices, but ignores their cause
The British Columbia government dedicated a significant portion of its recent throne speech to “solutions for housing.” In particular, the speech focused on the “threat” posed by “speculators” and the need to spend more on social housing ...
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Focus on foreign buyers overlooks source of most housing demand in Canada
The Canada Mortgage and Housing Corporation (CMHC), partnering with Statistics Canada, recently released much-awaited data tracking the share of home ownership by non-residents (individuals whose principal dwelling is outside of Canada) ...
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Ontario opposes foreign buyers tax, but housing affordability must be addressed
Appeared in Toronto Sun, November 6, 2016 Ontario Premier Kathleen Wynne has announced that the province will not introduce a property transfer tax on foreign buyers, similar to that introduced in British Columbia. The premier and her government should be ...
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To address skyrocketing home prices, Ontario government could reduce barriers to building
A recent Globe and Mail article highlighted Ontario Premier Kathleen Wynne’s concern regarding Toronto’s skyrocketing house prices. Indeed, the Canadian Real Estate Association reports a 117 per cent increase in home prices across the ...
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Allow housing supply to react to housing demand in Toronto, Vancouver and beyond
To date, the discussion on housing affordability, dominated by handwringing over foreign homebuyers and low interest rates, has primarily focused on demand-side issues while ignoring the fact that when a good is in high-demand, it ...