With home prices in Canada’s most expensive market going up at a dizzying pace, a Vancouver-based think-tank is proposing a new tax on homes valued at over $1 million to help bridge the affordability gap.
Although Canada’s housing market went ice cold when the pandemic began in March 2020, it soon came roaring back and spent much of 2021 on fire. Average prices across the country rose to their highest level on record at more than $720,000 in November, and despite those high prices, the year smashed the annual sales record, too, with more than 630,000 homes changing hands.
The torrid pace has
