August 12, 2015 / 5:18 PM / 3 years ago

Canada's Harper pledges action if needed on foreign home buyers

OTTAWA, Aug 12 (Reuters) - Canadian Prime Minister Stephen Harper pledged on Wednesday that if re-elected he would take action to deal with the purchase of Canadian real estate by foreigners if it turns out this is making homes unaffordable for Canadians.

“If such foreign, nonresident buyers are artificially driving up the cost of real estate and Canadian families are shut out of the market, that is a matter we can and should do something about,” Harper said in Vancouver, where foreigners - often from China or Hong Kong - have added heat to a hot housing market. (Reporting by Randall Palmer and Leah Schnurr; Editing by Peter Galloway)

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