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Family out $500,000 because of cooling residential market

Wednesday, May 09, 2018 @ 9:29 AM | By Matthias Duensing

We have spent the past several months reviewing some of the measures that both the federal and Ontario provincial governments have implemented in an attempt to cool down the out-of-control housing market, such as taxes on non-residents speculating in the Canadian real estate market and new mortgage rules.

The imminent necessity for government intervention in the housing market played out in the Ontario courts recently (Gamoff v. Hu 2018 ONSC 2172), to the tragedy of a family whose excitement to dive into the marketplace led them...