The government needs to get control of rising foreign ownership of Canada’s housing stock or risk the country’s renters being “held ransom” by landlords. That’s according to the author of the Condo Bible, Dan S. Barnabic. Writing in the Huffington Post he says that if the Trudeau government does not take action to limit the level of foreign ownership those landlords will be able to dictate the rental market and price Canadians out of homes. Barnabic says that foreign investment in the economy is vital but that large scale investment in housing needs to be severely restricted or stopped altogether to avoid further impacting housing affordability.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: