Le Lézard
Classified in: Business
Subjects: FNC, CFG

Federal Government Makes it Easier to Buy a First Home


SAINT-JEAN-SUR-RICHELIEU, QC, April 17, 2019 /CNW/ - Our Government strongly believes that all Canadians should have access to safe and affordable housing. That is why we are focusing on the introduction of an innovative tool under Canada's first ever National Housing Strategy.

Logo: Government of Canada (CNW Group/Canada Mortgage and Housing Corporation)

Today, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), announced a proposed measure to strengthen the National Housing Strategy by making it more affordable for young Canadians to buy their first home.

The proposed Budget 2019 measure will help families take their first steps toward home ownership through a new First-Time Home Buyer Incentive that would reduce the mortgage payments required for first-time home buyers looking to own a home.

Additionally, Budget 2019 will:

Quotes

"Through the National Housing Strategy, more middle-class Canadians - and people working hard to join it - will find safe, accessible and affordable homes. Our proposed measures will make it more affordable for young Canadians to buy their first home and will help strengthen the National Housing Strategy, ensuring that it delivers concrete results for the benefit of all Canadians. " ? Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation

"The many families in the Saint-Jean-sur-Richelieu region, including young families, military families and young professionals, will benefit directly from these enhanced measures, which will make it easier for them to acquire their first home. I am proud to be part of a government that puts Quebec and Canadian families first by giving them the help they need to make a difference every day. " ? Jean Rioux, Deputy for Saint-Jean

"Through the design of the First-Time Home Buyer Incentive, officials at the Department of Finance and CMHC have worked hard to develop a program that is balanced. One that achieves our objectives of helping first-time buyers without undoing the progress already made through measures that prevent excessive borrowing and limit house price inflation." ? Evan Siddall, President and Chief Executive Officer Canada Mortgage and Housing Corporation

 

Quick Facts

Associated Links

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aims is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.

To find out more about the National Housing Strategy, visit www.placetocallhome.ca.

 

Logo: Canada Mortgage and Housing Corporation (CMHC) (CNW Group/Canada Mortgage and Housing Corporation)

SOURCE Canada Mortgage and Housing Corporation


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