Just as predicted in September 2019, the First Time Home Buyer Incentive Program introduced by the federal government does not seem to be living up to expectations. When initially introduced, the program aimed to help Canadians purchase their first home by offering 5% to 10% of the home’s purchase price to put toward a down payment, ultimately reducing one’s monthly payment to make home ownership more affordable.
First Time Homebuyer Incentive Program Fails Homebuyers in Metro Vancouver
CoStar Insight: Major Reforms Needed to Make Program Effective in Toronto, Vancouver
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