With marching orders, federal housing minister looks to tamp down on investment homes

Dec 21, 2021 | 11:01 AM

OTTAWA, Ill. — Canada’s housing minister says the federal government plans to take a tougher stand on investment properties to help cool housing prices.

The broad strokes of the agenda were outlined in the mandate letter the prime minister gave to Housing Minister Ahmed Hussen.

Among the marching orders to Hussen was to dissuade Canadians from snapping up income properties by reviewing rules around down payments and policies to curb “excessive profits.”

Hussen says tamping down on the rush for investment properties and flipping, as well as discouraging foreign investors from holding on to vacant homes, is also part of a push to rein in rising home prices.