Drummond also noted that Canada’s foreign homebuyer ban is set to expire in 2027, and said that Australia could serve as a potential model for how to deal with foreign buyers.
“They allow foreign buyers to purchase new product,” he said. “But they don’t allow people to buy existing inventory and bid up the cost of existing stocks.”
Heavy tax breaks and assistance for co-housing and co-ops, especially at missing-middle size, and opening up careful mixed-zoning, is where municipalities can make a huge impact. Upper-income parochialism will blind most councils though.