PM vows to track, maybe limit, foreign buyers

Canadian Prime Minister Stephen Harper pledged on Wednesday to track and possibly limit foreign purchases of Canadian real estate if re-elected, but the move was not expected to slow down foreign buying soon.

"There are real concerns that foreign, nonresident real estate speculation is the reason some Canadian families find house prices beyond their budgets," Harper said while visiting suburban Vancouver.

The announcement echoes fears in Vancouver that foreign money, mostly from the Chinese mainland, is driving rapidly rising housing prices, fueling calls for government to track international buyers and impose restrictions.