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Apr

20

Cracks Appear in Toronto’s Housing Market as Home Capital Drops

By Tony Seruga

Ontario regulators to apply 15% levy on non-Canadian buyers
Prices will fall, ‘people are going to get hurt,’ Watsa says

Canadians fretted for years that home prices in the country’s largest city are rising at an unsustainable rate. Now they’re doing something about it.

Ontario, the country’s most populous province, announced on Thursday a set of measures aimed at cooling the Toronto housing market, including a tax on the foreign buyers who’ve been blamed for speculation. The province’s securities regulator on Wednesday also accused an alternative mortgage lender, Home Capital Group Inc., of making misleading disclosures, sending its shares tumbling…

Cracks Appear in Toronto’s Housing Market as Home Capital Drops

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