Among the marching orders to Hussen was to dissuade Canadians from snapping up income properties by reviewing rules around down payments and policies to curb "excessive profits."
Hussen says tamping down on the rush for investment properties and flipping, as well as discouraging foreign investors from holding on to vacant homes, is also part of a push to rein in rising home prices.
He says the government would draw a line between mom and pop-style landlords and large real estate trusts that own hundreds of units as a passive investment vehicle and may not care whether they are occupied.
“The point is to reduce the speculative demand in the market and help cool these astronomical increases in prices,” Hussen said in an interview Tuesday.
