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The government of Canada gave another blow! Foreigners banned from buying houses until 2027; Finance Minister explained the reason

  Toronto: The Government of Canada (Canada Govt) has now banned non-Canadians, permanent residents and commercial enterprises from buying houses in Canada. The federal government will continue a ban on foreign nationals buying homes in Canada for another two years as housing affordability concerns plague cities across the country. Canada is extending its ban on foreign home buyers until 2027, Canadian Finance Minister Chrystia Freeland announced today. Under the ban, which will first come into effect in 2023, foreign business enterprises and people who are not Canadian citizens or permanent residents will continue to be prohibited from owning residential property in Canada.