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Canada Housing Agency Cites Foreign Buyer Risk, to Collect Data

  • Local realtors, developers, among possible information sources
  • CMHC considering publishing stress test results, Siddall says
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Foreign Buyers Target Canadian Real Estate

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Canada’s housing agency is considering ways to collect more data on foreign investment as home prices continue to surge in Toronto and Vancouver.

"It’s clear that we need to capture more detailed information on foreign investment, to better inform the Canadian government and housing market participants," Evan Siddall, chief executive officer of the Canada Mortgage & Housing Corp., said in the text of a speech delivered in Toronto Tuesday. "A lack of accurate and reliable data makes it difficult to determine if or how foreign investment may be affecting the market. Most of the available information is anecdotal. And the problem is that many foreign investors may prefer to hide their ownership."