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.
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@B2VDNWTNew Democratic2mos2MO
depends on the price of utilities, groceries, the state of the economy, and the amount of people living in the home.
@B24CB2J4mos4MO
Maybe. Needs more thought and proper policy but this could be a good idea. Qualification is important.
@9FBR3YR2yrs2Y
@8VSPZRB4yrs4Y
Yes but should also include single income families and increase it to 150k
I do not have an opinion on the matter
@8VHWNG54yrs4Y
Should at least offer help to qualify for buying a home and pay the CMHC interest for home buyers making under this amount per year.
@8RMFXFD4yrs4Y
It depends on the financial (family, single parent, etc.) situation that the home buyer is in
@8N6JJ344yrs4Y
Less than $7000 income should be helped. I think $120K is too high for help.
@8CC22KD5yrs5Y
They should subsidize home buyers who make less than 60,000 per year
@9C4N53J2yrs2Y
No, if an individual is looking for a place to reside in, they can either get loans, help from their SO, or look for cheaper places. I think the market is messed up but you can only afford what you can afford
@8PYCQ9V4yrs4Y
It would depend on how great moral hazard the home buyer poses.
@8MTRMBS4yrs4Y
Depends on the character of the buyer
@8X5GQXLConservative3yrs3Y
It has benefits and doubts
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