Canada bans foreign homebuyers

Effective January 1, Canada has begun a two-year ban on most international homebuyers in an effort to support affordability and availability of homes for Canadian citizens. The country has experienced outsized price appreciation in recent years, especially in some of its larger metros, which has attracted billions of dollars of real estate investment from foreign buyers and investors. The Canadian government has recently been more aggressive of a regulator of its real estate business, but should inventory remain an issue for US homebuyers, especially those with lower incomes and wealth, it could look to introduce policies to support citizen homeownership.