Toronto may not follow BC’s example on foreign owners says mayor

The Mayor of Toronto says that he is in no hurry to make a decision on whether the city should be looking at cooling foreign investment with measures like those that will apply in BC from Monday.

John Tory told BNN that he has not drawn any conclusions on what should be done to cool the market based on what is going on elsewhere. He said that governments cannot micro-manage the market.

Ontario may introduce measures to take some of the pressure off the province’s home prices, especially in the GTA, however low supply is cited by many analysts as a more urgent problem than foreign investment.  

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