Federal Plans To Help Home Buyers
On April 7 th the federal government unveiled the 2022 budget in front of the House of Commons; it contained over $10.1 billion in initiatives designed to support the Canadian housing market. Deputy Prime Minister and Minister of Finance Chrystia Freeland said, “Housing is a basic human need, but it is also an economic imperative. Our economy is built by people, and people need homes in which to live. But here’s the problem – Canada does not have enough homes. We need them, and fast. This budget represents perhaps the most ambitious plan that Canada has ever had to solve that fundamental problem. There are three main thrusts to the initiatives: 1. Crack down on speculative real estate investment 2. Invest in increasing housing supply 3. Helping home buyers Let’s dig into each of these areas to better understand the plan. 1. ...
