Erin O’Toole leaves massive loophole for foreign housing speculators

Erin O’Toole has promised to ban foreign purchases of real estate – unless the buyer says they have a “plan” to live in Canada.

In other words, a foreign speculator can get around the ban by pretending they plan to move in Canada at some point in the future, without providing any details or timelines. O’Toole’s plan is unenforceable and won’t do anything to tackle foreign real estate speculation.

Jagmeet Singh has promised a 20% tax on purchases by all foreign buyers.