Well if anyone was hoping that foreign buying would be curtailed by the new Liberal government, it appears to be unlikely.
With some very intelligent remarks about “unintended consequences”, Mr. Trudeau essentially said “Not happening”. But I think what is far more interesting is to consider what seems to be happening. In my humble opinion, our Bank of Canada is more concerned about deflation and rightly so. They are also concerned about the poor economic performance. Consequently, they are going to keep the bank rate low enough so that the banks have no choice but to lend and companies have to invest.
Will the housing market continue to roar? No one really knows, however when housing purchases are made because it is seen as a good speculative move, then there is very little holding the market up when prices begin to drop. So be ready for moves both up and down, no investment has ever gone up in a straight line. Condos are likely to turn first.