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Story summary
- Finance Minister François-Philippe Champagne announced a review of the foreign homebuyer ban set to expire Jan 1 2027.
- The ban, introduced Jan 1 2023, was extended to Jan 1 2027.
- RBC economist Robert Hogue said the ban’s effect on affordability is minuscule.
- He added that lifting the ban won’t spark a buyer surge.
- Government also launched Build Canada Homes and removed GST on new homes up to $1 million for first-time buyers.
