Canada bans foreign home buyers for two years
source link: https://www.axios.com/canada-foreign-home-buyers-ban-589fdf10-844f-4160-afe0-e8452df92fa8.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Canada bans foreign home buyers for two years
The Canadian government will ban foreign homebuyers for two years, AP reported Monday.
Why it matters: Canada's housing market is one of the hottest in the world, with prices jumping by more than 20% last year, per the CBC.
Details: The ban is aimed at "[c]urbing unfair practices that drive up the price of housing, in order to level the playing field for young and middle-class Canadians," according to a news release from Trudeau's office.
- Some exceptions will be made for permanent residents and foreign students.
- The government will also impose higher taxes on people who sell their home within a year.
Go deeper
U.S. officials to make emergency trip to calm tensions in Jerusalem
Israeli forces raid Al-Aqsa Mosque after a morning prayers on April 18, 2022. Photo:Senior State Department officials will travel this week to Israel, Jordan, Egypt and the Palestinian Authority in an effort to de-escalate the crisis in Jerusalem, three sources with direct knowledge tell Axios.
Why it matters: The trip shows the growing concern in Washington that further escalation could spark a new round of violence, like the May 2021 fighting between Israel and Hamas.
Analyst says Texas Gov. Abbott's border snarls cost billions in GDP
Cargo trucks wait to cross into the U.S. from Mexico on April 12. Photo: Herika Martinez/AFP via Getty Images.Texas Gov. Greg Abbott’s rule doubling the inspections for commercial trucks coming in from Mexico caused delays that cost the U.S. nearly $9 billion in gross domestic product, according to one analysis.
Driving the news: The rule, which Abbott has since rescinded, prompted fierce backlash and snarled cross-border traffic for days.
Nintendo hit with labor complaint
Photo Illustration: Budrul Chukrut/SOPA Images/LightRocket via Getty ImagesAn unnamed worker is alleging that Nintendo, and a firm it uses for hiring contractors, violated their legally protected right to unionize, according to a new filing with the National Labor Relations Board.
Why it matters: The NLRB complaint, filed on Friday, brings one of gaming’s most successful companies into the increasingly active conversation about workers’ rights in the sector.
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK