Today, Conservative Leader Andrew Scheer announced that a new Conservative government would introduce four new measures to make it easier for first-time homebuyers to buy a home.
“With his poor judgement and tax hikes, Justin Trudeau has put the dream of home ownership further out of reach for so many, especially young Canadians,” Scheer said. “As Prime Minister, I will fix his bad policies and work to get more homes on the market to lower the price of housing.”
A Conservative Government will:
- Fix 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.
- Increase amortization periods on insured mortgages to 30 years for first-time homebuyers to lower monthly payments.
- 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.
- Make surplus federal real estate available for development to increase the supply of housing.
Canada’s Conservatives know the government has an important role to play to put home ownership within reach for more Canadians. When you work hard, save, and invest in your future, the government should help you – not stand in your way.