All those fine words from the politicians add up to much less than meets the eye. The real hope for moderating house prices is with the Bank of Canada and its determination to change our collective psychology. StarEditorial
it’s all about economics.
For the same reason, the longer they see house prices rise at annual double-digit rates, the more they believe that it’s bound to continue — and think they can’t lose by bidding them up even more. But higher rates will be watched most closely for the effect they have on the housing market. Raising the cost of money is bound to dampen demand. The question is how much — just enough to head off future increases in house prices, or enough to actually bring them down
There’s also a new tax on so-called “property flippers,” i.e. anyone who sells a house less than a year after buying it.
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