3 Canadian Real Estate News Headlines You Shouldn't Miss Today (September 3rd 2019)
Hello everyone. How are you?
I provide you with Canada’s news headlines for real estate news for today.
Nearly 2,000 Canadians may be in Hurricane Dorian’s path: Global Affairs Canada
Nearly 2,000 Canadians may be currently located in states that are caught in Hurricane Dorian’s path. Florida in particular is a major destination for Canadians.
Government figures based on the voluntary Registration of Canadians Abroad indicate there are currently 1,161 Canadians registered in Florida.
Here's what you need to know about the First-time Home Buyer Incentive
The government's First-Time Home Buyer Incentive (FTHBI) comes into effect today.
The program, aimed at making it easier for young people to buy their first home by lowering new buyers' monthly mortgage payments.
Trudeau’s homebuyer plan offers little solace in pricey markets
Prime Minister Justin Trudeau wants to make housing more affordable for first-time buyers. His efforts may be of little help to people in the country’s priciest cities.
The national housing agency aims to spend up to $1.25 billion over three years subsidizing down payments for new lower- to middle-income buyers. Under the program, launched Monday, the government will pay up to 10 per cent of the purchase price in exchange for a stake in the home that would be paid back once it’s sold.
The plan targets millennials, a growing cohort that’s getting squeezed out of Canada’s housing market. Home prices across the country jumped almost 40 per cent in the five years through July, largely driven by gains in cities such as Toronto and Vancouver. Trudeau’s government expects the program will be used by 100,000 buyers, but brokers and analysts are skeptical that it will have much traction in the areas that need it most.
Jethro Seymour, Top Toronto Real Estate Broker
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