The Canadian government has extended its ban on foreign nationals and commercial enterprises purchasing residential property in Canada until 2027, a policy initially implemented in 2022. This measure aims to prioritize housing for Canadian residents, amidst debates on its impact on affordability due to the low percentage of non-Canadian-owned housing. The ban includes exceptions for some international students, refugee claimants, and temporary workers, with further allowances in specific circumstances. This extension reflects ongoing efforts to address housing affordability, amidst a broader dialogue on housing policy effectiveness and political responses to the national affordability crisis.
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