Ontario housing measures—too much on demand, too little on supply

The Ontario government yesterday announced a raft of measures aimed at cooling the cost of buying or renting in the Greater Golden Horseshoe. Topping the list—a 15 per cent tax on foreign buyers (conveniently called “non-resident speculators”) and the expansion of rent control to all private rental units in Ontario.Both of these ideas raise serious concerns.Taxing foreign buyers may seem politically expedient, but this policy stands on anecdotal, rather than substantial, evidence. It was only a few days ago that Queen’s Park announced it would start tracking the nationality of homebuyers. It’s also unclear whether such a tax will have

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