this post was submitted on 26 Dec 2023
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The reason why is because foreign home ownership has never been the core of the issue. This law was a distraction from the reality that Canadians are plenty willing, and more likely, to be the one exploiting you.
https://www150.statcan.gc.ca/n1/pub/46-28-0001/2023001/article/00001-eng.htm
[...]
As always, the core of the issue is that home ownership is treated as a commodity. Sort of a fundamental reality of putting a thing into a competitive market is that you're going to have winners and losers. And losers in the housing market leads to, you know, homelessness among many other social ills.
Residential property shouldn't be an investment, but we can make great strides if we ban corporate and foreign ownership (NO exceptions this time)