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Foreigners are believed to make up a smaller proportion of buyers in Toronto’s housing market, however precise figures are unknown as the federal government doesn’t maintain statistics on foreign consumers. And yet, regardless of the horrible alternate price, for Canadian home consumers the buck nonetheless goes far additional in many U.S. cities than in the prime two priciest Canadian markets of Toronto and Vancouver.
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Sales within the Vancouver area had climbed simply zero.6 per cent in June, 2016, and fell 19 per cent in July compared with the identical month a year earlier as many home buyers had already started to depart the market on account of affordability issues.