Ontario's Fair Housing Plan
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The Ontario Government has launched a major plank in this Thursday’s Budget in unveiling its plan for the housing crises.
Ontario’s Fair Housing Plan promotes itself as "a comprehensive package of measures to help more people find affordable homes, increase supply, protect buyers and renters and bring stability to the real estate market."
The sixteen-point proposal includes a 15 percent Non-Resident Speculation Tax on the price of homes purchased by persons who are not citizens or permanent residents of Canada or by foreign corporations.
The expansion of rent control to all private units, including those built after 1991, is another feature of the Plan with other tenant-friendly amendments to the Landlord and Tenant Act.
A full explanation of the plan can be found by clicking here.
