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Canada implements a law prohibiting foreign individuals, excluding immigrants and permanent residents, from purchasing residential properties for two years due to concerns over a real estate bubble. The government aims to address issues of underused housing, rampant speculation, and soaring prices caused by foreign investors. However, the move has faced criticism, with some arguing it perpetuates stereotypes about immigrants and overlooks the fact that most foreign buyers are purchasing homes for personal use rather than speculation.
Saturday, 31 December, 2022