The housing market in Hamilton remains "vulnerable," as do the markets in Toronto, Vancouver and Victoria, B.C., according to Canada Mortgage and Housing Corporation.

Over the past decade, Canadians have increasingly pegged their fortunes to real estate, often with the assumption that housing prices will continue to rise.

In Ontario, realtors are permitted to share the price of a competing offer with another buyer, but only if all parties involved agree to the auction process.

A new report from the Canada Mortgage and Housing Corp. says moderate economic growth in the Greater Toronto Area and Ontario generally will provide support for provincial real estate prices in 2018 and 2019.

When asked what data the decision to implement such a tax was based on, Charles Sousa cited a November 2016 Toronto Real Estate Board survey that suggested foreign buyers were involved in about five per cent of purchases.

"The measures around trying to reduce speculation in the market, we think, are positive," Bill Morneau said.

Measures can help tame the city's housing bubble but won't make homes affordable.

The Ontario government will place a 15 per cent tax on non-resident foreign buyers.

If you're not living in Toronto, should you care about its housing market? Some economists say yes.

The average price of a detached house in the region hit $1.21 million last month, up 33.4 per cent from a year ago.