Another Prohibition???

When you think of Prohibition you are probably like me and are thinking of alcohol, that time when no one was allowed to buy it... well, this time it's housing.

In January it was announced that non-Canadians will not be allowed to purchase real estate in Canada. There are lots of stipulations and rules around this... like... you can't buy in certain census areas - so you can venture outside of most major cities to purchase but not within the city. You have to of paid taxes for the last 3 of 4 years.

The new rule has taken some of our new buyers right out of the market. It is important to talk with the right lawyers and ask the right questions to know whether you can buy as the rules are lengthy and a little confusing.