Nov
30
Don’t Blame House Price Surge on Foreigners, CMHC Chief Says
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CMHC’s Siddall calls for ‘more aggressive’ supply response
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Foreigners own only about 2% of Vancouver, Toronto condos
Foreign buyers aren’t the main culprit behind skyrocketing home prices in Canada, said the head of the nation’s housing agency.
“Foreign investment is a thing, not the thing that’s driving demand,” Evan Siddall, president of Canada Mortgage and Housing Corp., said in an interview with Bloomberg TV Canada in Vancouver on Wednesday. “We pay attention when people who look different from us buy houses next door. We don’t pay as much attention when people like us buy the same houses for the same prices.”…
Don’t Blame House Price Surge on Foreigners, CMHC Chief Says
