Canada is seeking to ban foreign nations from the property market with new legislation that would prohibit any non-Canadians from buying property for two years. Prime Minister Justin Trudeau introduced the legislation, which is meant to counter rising property prices, which have jumped more than 20 percent. The average home now costs $650,000, which is nine times more than the average household income, according to BBC. The skyrocketing housing prices are a product of population growth and shortage of homes.
