Canada will ban most foreigners from buying homes for two years and provide billions of dollars to spur construction activity in an attempt to cool its surging real-estate market.
The move will be announced in Thursday's budget, according to a person familiar with the plans.
Home prices in Canada have soared more than 50% over the past two years, with a record monthly increase in February as buyers acted ahead of rate increases. Tap the link in our bio for more on Canada's plans to tame one of the developed world’s most expensive housing markets.
