In September 2019 the government introduced a plan where prospective home buyers can finance 5-10% of their mortgage via a shared equity program administered by Canada Mortgage and Housing Corporation (CMHC). Households who make $120K or less and put down 5% will qualify for the program which will cost an estimated $1.25 billion.
Yes but only for people who don’t make a liveable wage or make less than 40-50k a year. Also only for people who are in bad financial situations (unless they got themselves into it and aren’t trying to get out of it) and for single parents who make less than 50-40k.
Yes and no because if you are in a situation where you make 20-30k a year, and you are a single parent, then having some help paying would be nice. But if you are making 100k a year, that a different story because it’s so much more than 20k. So I think that the government should subsidize for people marketing under 100k, but not anyone over that.
Maybe actually do something about housing speculation and implement strict rent/vacancy controls. We do not have free markets in this country aside from real estate. No party has implemented policy that has made housing more affordable. Only the hike in interest rates has.
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