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Canada to exempt new properties from the foreign buyers ban (www.castanet.net)
submitted 16 hours ago by to c/canada@lemmy.ca
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Most of what I've heard of the budget has seemed relatively positive, but this just seems like an insane own goal.

Toronto's condo market has collapsed (and hundreds of thousands of people are living in shitty conditions), because we have a massive oversupply of investor condos and nothing else.

So what does the federal government do? Incentivise the construction of investor condos.

What. The. Honest. Fuck.

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[–] 3 points 11 hours ago* (last edited 10 hours ago)

Gotta keep the Boomers fed until they die. Did the foreign buyers ban drop housing prices? Nope. Just ended up with more empty condos no one wants, because they were never designed to be actually lived in, just used as a speculation tool.

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