Today, Conservative Leader Andrew Scheer announced four new measures to make it easier for first-time homebuyers to buy a home. These include:
1. Fixing the mortgage stress test to ensure that first-time homebuyers aren’t unnecessarily prevented from accessing mortgages and work with OSFI to remove the stress test from mortgage renewals to give homeowners more options.
2. Increase amortization periods on insured mortgages to 30 years for first-time homebuyers to lower monthly payments.
3. Launch an inquiry into money laundering in the real estate sector and work with our industry partners to root out corrupt practices that inflate housing prices.
4. Make surplus federal real estate available for development to increase the supply of housing.
This is in stark comparison to Trudeau's latest "incentive" that has so many terms and conditions that most first-time homebuyers don’t qualify. What’s more, it only targets select cities.
Whats more, the Liberal stress test has been shown to affect young buyers the most. The cost of housing continues to skyrocket and more than 80 per cent of middle-income families are paying $800 more in taxes a year than they did in 2015.
It’s harder than ever before to save for a down payment or monthly bills and Justin Trudeau has proven that he can’t be trusted to help Canadians get ahead.