Should the ban on foreign buyers be relaxed to help B.C.’s slowing real estate market?

• 6 hours ago
• News
• Duration 2:46

Brendon Ogmundson, chief economist for B.C. Real Estate Association, says B.C. needs to reintroduce some foreign investment in real estate, amid slowing condo sales. About 2,500 new condos are sitting unsold and empty in Metro Vancouver, according to the Canada Mortgage and Housing Corporation. Ogmundson worries that will lead to a decline in development, and argues foreign investment is needed to jump start more construction to meet the province’s housing targets.