Liberals target millennials with expanded home buyer subsidies [Toronto Globe and Mail (Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
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Source: Toronto Globe and Mail
Liberals target millennials with expanded home buyer subsidies Justin Trudeau says a Liberal government would expand its new first-time home buyer program to boost affordability in major centres, a move designed to appeal to young voters but expected to have little impact on the overall real estate market. In an announcement at a townhouse development in Victoria on Thursday, Mr. Trudeau also unveiled a 1-per-cent tax on non-Canadians who leave their homes in Canada empty while living abroad. The annual tax would apply nationally, and would come in addition to any other municipal taxes home buyers pay in cities such as Vancouver. Mr. Trudeau said he is modelling his proposal on a British Columbia tax on vacant homes that he said has dampened speculation. "That is why we feel it is important to create a national measure right across the country based on B.C.’s success with it to ensure that foreign speculation doesn’t make housing less affordable for Canadians who, as we know, are look
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