“It appears that the psychological impact of the Fair Housing Plan, including the tax on foreign buyers, is starting to unwind,” TREB director of market analysis Jason Mercer stated, as quoted by Bloomberg.
Forecasters at mortgage lenders and the government housing agency predicted prices to rebound nationwide in 2018, led by a recovery in Toronto. Canada Mortgage & Housing Corp. said in October that it is expecting “balanced conditions” to enter the market as land constraints drive prices up for the next two years.
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