Canada bans most foreigners from buying homes

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Canada bans most foreigners from buying homes
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A ban on foreigners buying residential property in Canada took effect on Sunday, aiming to make more homes available to locals facing a housing crunch.

Several exceptions in the act allow individuals such as refugees and permanent residents who are not citizens to buy homes.

"The desirability of Canadian homes is attracting profiteers, wealthy corporations, and foreign investors," his Liberal Party said in its election plank at the time. Major markets such as Vancouver and Toronto have also introduced taxes on non-residents and empty homes.

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