Housing concerns are mounting in Nova Scotia due to the devastation caused by the wildfires over the last couple of weeks. More than 200 homes have been lost to the flames.
New data from the Canadian Real Estate Association shows that home sales and prices have fallen year-over-year in the province. An associate professor of economics says that reflects high mortgage rates and low housing affordability.
The Prohibition on the Purchase of Residential Property by Non-Canadians Act came into effect on Jan. 1. It prevents non-Canadians from buying a home in the country for the next two years.