03/01/2023
The Canadian government passed this law as home prices surged after the start of the pandemic and some politicians also believed that buyers were responsible for snapping up the supply of homes as investments.
The campaign site of Prime Minister Justin Trudeau's party this past year wrote that the desirability of Canadian homes is attracting profiteers, wealthy corporations, and foreign investors. "This is leading to a real problem of underused and vacant housing, rampant speculation, and skyrocketing prices. Homes are for people, not investors," according to the campaign site.