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Trudeau’s Populist Pose Could Hurt Canada’s Economy

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Trudeau’s proposed restrictions on home purchases by non-Canadian buyers are aimed at improving affordability. Canadians have long chafed at stories of Chinese and Hong Kong investors buying up property in Vancouver, bidding up values there and in other cities, and also at foreign speculation in cheaper housing options. Toronto and Vancouver have already imposed a 15% and 20% tax, respectively, on home buying by foreigners. With housing prices nevertheless continuing their surge, Trudeau is calling for a two-year ban on such purchases.