Municipalities should rezone broadly to allow more density and Canada should temporarily ban foreign buyers to help alleviate the housing affordability crunch faced by residents, the country’s housing minister said on Tuesday.
Summary
- Canada’s Minister of Housing, Diversity, and Inclusion Ahmed Hussen speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada November 30, 2021.
- REUTERS/Blair Gable/OTTAWA, Dec 21 (Reuters) - Municipalities should rezone broadly to allow more density and Canada should temporarily ban foreign buyers to help alleviate the housing affordability crunch faced by residents, the country’s housing minister said on Tuesday.
- “That’s one of the ways to easily increase housing supply by using the same land for single-family dwelling and creating more units.”
- Hussen said he supports the foreign buyer ban, but did not provide any details on how and when it would be implemented, deferring to Finance Minister Chrystia Freeland.
- Canada has limited statistics on foreign ownership of housing.