“The desirability of Canadian homes is attracting profiteers, wealthy corporations and foreign investors,” his Liberal Party said in its election issue at the time.
“This is leading to a real problem of unused and vacant housing, rampant speculation and skyrocketing prices. Homes are for people, not investors.”
Following their 2021 election victory, the Liberals quietly enacted the Prohibition on the Purchase of Residential Property by Non-Canadians Act.
Major markets such as Vancouver and Toronto have also introduced taxes on non-residents and vacant homes.