to cooling the market, but a handful of unique ideas set his plan apart from his southern neighbor's.estimated in May that Canada has fewer homes per 1,000 residents than any other G-7 country.
Other elements of Trudeau's measure strike at the causes of the nationwide home shortage. For one, the prime minister aims to ban"blind bidding," a process through which prospective buyers can't see what other buyers have offered for a house. Such a ban would"crack down on predatory speculators" and shift more power into first-time buyers' hands, Trudeau said in an August 24 speech unveiling the housing plan.
Jacinda Ardern, Prime Minister of New Zealand, speaks during the "Safeguarding the planet" session at the annual meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 22, 2019.Prime Minister Jacinda Ardern's plans for combatting New Zealand's housing crisis focus just as much on accessibility as bolstered supply.
The country also extended its bright-line test, which mandates investors pay income taxes on gains made from selling homes they don't live in, further curbing speculation in the housing market. The prime minister extended the test to 10 years, meaning investment properties owned for less than a decade will be taxed.
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