2016-3-29crossbnnOttawa’s pledge of $500,000 for Statistics Canada to research foreign homebuyers’ expansion into Canada is unlikely to have much impact on solving the problem, Macdonald-Laurier Institute Senior Fellow Philip Cross told BNN.

Cross also believes the department receiving the money – Statistics Canada, where Cross used to be chief economic analyst – is unlikely to be best-suited to tackling the issue.

“What the half-million buys, I have no idea”, says Cross. “It seems to be just a matter of saying ‘well, we’re doing something about it’”.

Ottawa pledged the $500,000 to delve into the issue of foreign homebuyers as part of last week’s federal budget.

To watch the full interview, click here.

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