Edmonton Mortgage Blog
Your Edmonton Mortgage Broker: Natalie Wellings
Liberal Platform on Housing
September 23, 2021 | Posted by: Natalie Wellings
The Liberal Party proposed quite a few tweaks to the housing market in their election platform. Here is a great article explaining the proposed amendments, in detail. A lot of these proposed changes are not going to make the housing situation better for Canadians, unfortunately. In fact, this may have the unintended consequence of increasing prices and demand thus further indebting Canadians. It will be interesting to see which of these programs come to fruition now that the Liberals have won the election!
Proposed changes and amendments:
Rent-to-own programTax-Free First Home Savings Plan
First Time Buyer Incentive (changes to existing plan)
First Time Buyer Tax Credit (changes to existing credit)
Mortgage Insurance Premium Reduction
