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18

Canada Puts Housing Speculators on Notice as Toronto Prices Soar

By Tony Seruga

Mayor says city looking at vacant-home tax to bolster supply
Officials agree not to take actions that would boost demand

Canadian officials across all three levels of government vowed to be vigilant in monitoring the Toronto region’s rapidly accelerating housing market, including possibly taking formal steps aimed at curbing speculative activity.

Federal Finance Minister Bill Morneau, Ontario Finance Minister Charles Sousa and Toronto Mayor John Tory met Tuesday to discuss the thorny question of how to cool the city’s residential real estate market, though they stopped short of providing details on specific measures. Possible steps include taxing homes left empty for speculative purposes, Tory said…

Canada Puts Housing Speculators on Notice as Toronto Prices Soar

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