Apr
13

Ontario Vows to Cool Housing Market as April 27 Budget Awaited

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  • ‘Looking at a number of alternatives’ to temper market: Sousa
  • ‘Hot’ market making it tough to buy first homes, Sousa says

Ontario Finance Minister Charles Sousa is considering a number of measures to cool the housing market as he prepares to unveil his annual budget on April 27.

Sousa didn’t elaborate on specific steps in a speech at the Empire Club of Canada in Toronto on Thursday, and didn’t say if they’ll be in the budget. He will meet with Canada’s Finance Minister Bill Morneau and Toronto Mayor John Tory on Tuesday to discuss the housing market.

“It’s unfair that deep pockets are driving up the cost of homes,” Sousa said in the speech. “All levels of government need to work together to find remedies,” he added, calling for a “thoughtful approach to avoid unintended consequences.”…

Ontario Vows to Cool Housing Market as April 27 Budget Awaited

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