This chapter delves into the repercussions of high house prices on the economy, highlighting the need to regulate prices to avert adverse effects. It also explores how elevated housing costs impact individuals, businesses, and the broader economic landscape, along with discussing the role of foreign investments and the societal challenges stemming from escalating real estate prices.
Canada is banning foreign investors from buying homes for two years to address the pandemic-induced surge in home prices. Economists warn it could have long-term effects on the economy if not managed well. Other economies are closely watching Canada to see if the move pays off.
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