{"id":17119,"date":"2021-12-15T16:56:18","date_gmt":"2021-12-15T16:56:18","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/12\/15\/more-action-to-address-hot-housing-coming-in-budget-ottawa-says-but-some-are-getting-impatient\/"},"modified":"2021-12-15T16:56:18","modified_gmt":"2021-12-15T16:56:18","slug":"more-action-to-address-hot-housing-coming-in-budget-ottawa-says-but-some-are-getting-impatient","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/12\/15\/more-action-to-address-hot-housing-coming-in-budget-ottawa-says-but-some-are-getting-impatient\/","title":{"rendered":"More action to address hot housing coming in budget, Ottawa says \u2014 but some are getting impatient"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\">\n<h2 class=\"visually-hidden\">Breadcrumb Trail Links<\/h2>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\"> Real Estate <\/li>\n<li class=\"breadcrumbs__item\"> FP Economy <\/li>\n<\/ol>\n<\/nav>\n<p class=\"article-subtitle\"> Source says Ontario looking to raise and expand foreign buyer tax early in new year <\/p>\n<div class=\"article-meta\">\n<div class=\"published-by\">\n<p>Author of the article:<\/p>\n<p> <span class=\"published-by__author\">Stephanie Hughes<\/span> <\/div><\/div>\n<figure class=\"featured-image\"><picture class=\"featured-image__ratio\"><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Housing affordability has become a critical issue in Ontario, government officials say. <\/span> <span class=\"credit\">Photo by James MacDonald\/Bloomberg<\/span> <\/figcaption><\/figure>\n<\/header>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>Those looking for Ottawa to announce significant new measures to address housing affordability in Tuesday\u2019s fiscal update were out of luck, though the government said the issue was a \u201cpriority\u201d and that it would take more action in the spring budget.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>\u201cWe know housing prices are a real concern, especially for those in the middle class looking to buy their first home,\u201d the government said in its fiscal update. \u201cWe will take further action in the upcoming budget.\u201d<\/p>\n<p data-async=\"\">The Liberals had included a pledge in their April 2021 budget\u00a0 to implement a one-per-cent tax on vacant and underused property, a tax that is due to go into effect on Jan 1. The fiscal update described consultations made through the Department of Finance between Aug. 6 and Sept. 17 this year.\u00a0During the election campaign in September, the party promised to expand on it with a two-year foreign homebuyer freeze intended to curb speculative investing.<\/p>\n<p>The Liberal platform also included a blind bidding ban as part of a strategy to promote transparency in real estate transactions and a plan to invest in 1.4 million home units over four years. The measures were mentioned but not directly advanced in Tuesday\u2019s update.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>On Monday, BNN Bloomberg had reported that a \u201csenior Ontario government source\u201d had indicated the province would hike its own foreign homebuyer tax to 20 per cent from 15 per cent if Ottawa did not raise the national tax rate.<\/p>\n<p>A senior government source from Ontario\u2019s Ministry of Finance told Financial Post that the department is looking to act early in the New Year to increase and expand the non-resident speculation tax (NRST) to encompass the entire province and not just the Greater Golden Horseshoe Region (GGH).<\/p>\n<p>The department issued a release following the fiscal update calling on continued partnership with the federal government against the pandemic, citing housing affordability as a critical issue.<\/p>\n<p>\u201cThat is why our government is prepared to act on housing affordability, including addressing foreign speculation in the province\u2019s real estate market and we are calling on the federal government to do the same,\u201d wrote Ontario finance minister Peter Bethlenfalvy in the release.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>Bethlenfalvy also said that the lack of housing affordability measures in the update was a \u201cmissed opportunity\u201d, during a televised interview on BNN Bloomberg on Wednesday.<\/p>\n<p data-async=\"\">Ontario\u2019s non-resident speculation tax went into effect in April 2017 . Ontario\u2019s then-Premier, Kathleen Wynne, called the Toronto market \u201ca frenzy\u201d that needed to be calmed down.<\/p>\n<p>Ontario\u2019s foreign buyer tax previously affected those who are not citizens or permanent residents of Canada, as well as foreign companies looking to purchase in the Greater Golden Horseshoe Region. The region ranges from the Niagara municipality, to the City of Peterborough, and includes cottage country areas such as the Kawartha Lakes.<\/p>\n<p>Other provinces have also rolled out foreign buyers taxes. In B.C., non-residents have to pay a 15 per cent property transfer tax since 2016.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<blockquote>\n<p>Apart from working fiendishly to incentivize more development, the best thing Ottawa can do is wait for rate hikes<\/p>\n<p>Rob McLister, a mortgage analyst<\/p>\n<\/blockquote>\n<p data-async=\"\">However, market watchers questioned whether the move on its own could address affordability problems in the country\u2019s hottest markets.<\/p>\n<p>\u201cThe foreign buyers tax has had no impact on the marketplace. It\u2019s basically seen as a cost of doing business,\u201d said Christopher Alexander, senior vice-president at real estate firm RE\/MAX, told the Financial Post. \u201cAll the reports and research that we have done is they\u2019re not making up a huge portion of sales. I think this is, in my opinion, a politically motivated move.\u201d<\/p>\n<p>Alexander added that over the past few years that the tax had been in place, home prices have still risen dramatically.<\/p>\n<p>\u201cToo much government strategy has been focused on curbing demands and it\u2019s got to get like some point we\u2019re gonna have to tackle our supply challenges,\u201d he said.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-6\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<section aria-labelledby=\"moreTopicLabel2905580525609040871553165161102086\" class=\"more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\"> <button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/> <\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li class=\"more-topic__item\" data-carousel-item=\"\">  <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"\n14 of 1089CANADA FREELAND ECO\nChrystia Freeland, Canada's deputy prime minister and finance minister, at a news conference via videoconference in Ottawa, on Tuesday.\" class=\"lazyload\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80&ssl=1\" height=\"96\" loading=\"lazy\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=96&strip=all&quality=80,\n                                    https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=192&strip=all&quality=80 2x,\n                                    https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/vw1214freeland.jpg?h=288&strip=all&quality=80 3x\" width=\"96\"\/><\/picture>\n<h3 class=\"more-topic__item-text\"> <span class=\"more-topic__item-text-clamp\"> Ottawa knows it has an economic fight on its hands, but action will have to wait <\/span> <\/h3>\n<\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\">  <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Condos in the Vancouver area. The fiscal update proposes exemptions to the vacant or underused residential real estate tax in some cases for foreign owners. THE CANADIAN PRESS\/Darryl Dyck\" class=\"lazyload\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80&ssl=1\" height=\"96\" loading=\"lazy\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=96&strip=all&quality=80,\n                                    https:\/\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=192&strip=all&quality=80 2x,\n                                    https:\/\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/12\/NP_CONDO_84587922.jpg?h=288&strip=all&quality=80 3x\" width=\"96\"\/><\/picture>\n<h3 class=\"more-topic__item-text\"> <span class=\"more-topic__item-text-clamp\"> News From business subsidies to housing tax exemptions: Four takeaways from the fiscal update <\/span> <\/h3>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/> <\/section>\n<p>Rob McLister, a mortgage analyst, said in an e-mailed response that the foreign homebuyer tax undoubtedly curbed foreign housing investment, though there\u2019s no evidence that it had a direct impact on affordability. McLister added that would-be foreign buyers simply shifted their buying interest to markets such as Montreal which had no equivalent measures.<\/p>\n<p>\u201c(Hiking the NRST from 15 to 20 per cent is) like turning a furnace down from 30 C to 29 C. You wouldn\u2019t notice a difference,\u201d McLister wrote, adding that the move could be moot if the federal government does ban foreign buyers for two years as proposed.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-7\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"7\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-7\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>\u201cPre-COVID stats suggested that foreign buying in the GTA could be less than two per cent,\u201d McLister said, referencing an investigation from the CBC.<\/p>\n<p>\u201cThis whole discussion is just one more distraction from the conversation we should be having, which is, how do we build homes faster than the growth in household formation?\u201d he said.<\/p>\n<p>As market watchers await the new measures in the Spring budget, McLister and Alexander said the focus should be on the supply-side of the market, as well as a few other measures.<\/p>\n<p>\u201cTo significantly dampen housing demand with policy, you\u2019d need something equivalent to major mortgage restrictions, like materially lower maximum debt ratios, banning 30-year amortizations, a significantly higher mortgage stress test rate, a higher down payment minimum,\u201d McLister wrote.<\/p>\n<p>\u201cApart from working fiendishly to incentivize more development, the best thing Ottawa can do is wait for rate hikes.\u201d<\/p>\n<p data-async=\"\"><em>\u2022 Email: shughes@postmedia.com | Twitter: <a class=\"twitter-follow-button\" data-evt=\"click\" data-evt-typ=\"click\" data-evt-val=\"{\" control_fields=\"\" link=\"\" href=\"https:\/\/twitter.com\/StephHughes95\" rel=\"nofollow noopener\" target=\"_blank\">StephHughes95<\/a><\/em><\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt=\"beforeunload\" data-evt-typ=\"page_scroll\" data-evt-val=\"{\" control_fields=\"\">\n<h2 class=\"visually-hidden\">Share this article in your social network<\/h2>\n<\/section>\n<div class=\"article-content__ad-group\">\n<div class=\"ad__section-border ad__section-border--category visually-hidden\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-acceptable\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-acceptable=\"\" data-ad-loc=\"1\" 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Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n<footer aria-label=\"Article Comments\" class=\"article-footer\">\n<section class=\"comments__section\" id=\"comments\">\n<h3 class=\"widget-title comments-anchor\" id=\"comments-area\">Comments<\/h3>\n<p class=\"comments__section-disclaimer\"> Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications\u2014you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings. <\/p>\n<\/section>\n<\/footer>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>\n<br \/>More action to address hot housing coming in budget, Ottawa says \u2014 but some are getting impatient<\/a><br \/>\n<br \/>2021-12-15 16:56:18<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links Real Estate FP Economy Source says Ontario looking to raise and expand foreign buyer tax early in new year Author of the article: Stephanie Hughes Housing affordability&#8230;<\/p>\n","protected":false},"author":2,"featured_media":17120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/12\/housing1215.jpg?quality=90&strip=all&w=288&h=216","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-17119","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/17119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=17119"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/17119\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/17120"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=17119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=17119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=17119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}