Trudeau Vows 2-Year Ban on Foreign Home Buyers If Re-Elected
- Housing affordability has become a central campaign issue
- Conservative Erin O’Toole pledged to similarly crack down
A jogger passes waterfront condominium towers in Vancouver on Aug. 13.
Photographer: Jennifer Gauthier/BloombergThis article is for subscribers only.
Prime Minister Justin Trudeau promised to introduce a two-year ban on foreign home buyers to tackle housing affordability in Canada if he’s re-elected.
The proposed restriction is an attempt to cool a housing market that has soared during the Covid-19 pandemic. Surging prices have become a central issue in the campaign for the Sept. 20 vote, in which Trudeau hopes to regain a majority in parliament, with all three major parties promising crackdowns.