This article was last updated on April 16, 2022
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Ontario Premier Kathleen Wynne has expressed serious concerns about the heightening housing prices of Toronto. According to the Premier, her government is gathering detailed information about what is driving the sharp increase in prices before deciding what steps are required to fix it, including a foreign-buyer tax similar to British Columbia’s.
In statement issued at Queen’s Park on Friday, Premier Wynne stated that “I’m concerned about this,” and explained that “I want to know what the analysis is of the difference between the Ontario market and the British Columbia market – they’re not exactly the same – and I want to know what the impact has been, exactly, of what has been done in B.C. and what the potential impact would be in Ontario.” Government sources have alleged that it is not bound to any timeline for deciding whether or not to take action on housing prices. However, it was stressed that the province is hoping to have a better idea before the end of the year and take a decision soon after.
Ontario is working in collaboration with a combined task force, along with the federal government and B.C., to study housing prices in the Toronto and Vancouver areas. These remarks about doing more research before taking an action have come after new B.C. government data showed purchases of homes in Metro Vancouver by foreign buyers dropped substantially in August, the first full month since the new 15-per-cent tax came into effect.
The only thing this stupcomment_ID tnuc knows is greed and corruption ! I’m a liberal but this pathetic tnuc MUST go ASAP !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!