Helping people enter the housing market has been a growing preoccupation for the Liberals ever since they were elected in 2015, with soaring real-estate prices in some of Canada's largest cities putting home ownership beyond the reach of many.An estimated 1.6 million Canadian households are considered in "core housing need," meaning people who are living in places that are either too expensive or don't suit their needs.
The government also plans to raise the maximum amount a first-time buyer can withdraw from an RRSP: $35,000, up from $25,000. And while the program has long been restricted to new would-be homeowners, those who are recovering from the breakup of a marriage or common-law relationship would also be allowed to take part.
The program, some details of which are yet to be finalized, is part of a tranche of spending that includes establishing a national expert panel on housing supply and affordability, better data collection, and $300 million for a contest to encourage cities to come up with new ways of expanding housing stock.
"It's not going to make an impact on the overall market from a pricing standpoint, meaning people are actually going to be better off, more optimism in terms of housing, and it's the reason we're very excited about this measure." "This is providing additional support for individuals who have already qualified for homes, helps them relieve some of their monthly payments once they've qualified for a mortgage and entered into the contract," Desormeaux said.
Better keep that ponzi going.
With a lean on your home. And if you want to sell it, you have to ask permission from the Feds and pay for the privilege.
CTVAtlantic Pile of nothing. And 8 billion dollars to buy back the indigenous vote lol. Back to SNC Lavalin tomorow.
The budget has nothing for seniors everything for young people... SMH
LOL funny! Waste of time.
BS... liberals have no integrity
CTVAtlantic Boooooooo
federalbudget more blah, blah, blah
not anyone in the gta
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: VancouverSun - 🏆 49. / 61 Read more »