No matter where I am in Flamborough-Glanbrook I am hearing the same thing: it’s getting harder and harder to make ends meet. After paying the mortgage and credit card bills, many families are stretched by the end of the month. That’s why Canada’s Conservatives have been focused on bringing forward policies to make life more affordable.
These concerns are leading to one major issue that I am hearing from many young people: they’re worried that they will never be able to afford their dream of home ownership. Every Canadian should have the reasonable opportunity to own their own home and this week we announced our plan to make it easier for you to buy a home.
- A Conservative government will fix the mortgage stress test to make sure that first-time buyers aren’t prevented from accessing mortgages, while also working to remove the stress test from mortgage renewals to give homeowners more options.
- We will increase amortization periods on insured mortgages to 30 years for first-time home-buyers to lower their monthly payments and make breaking into the housing market easier
- 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
These are all policies that are going to help first-time buyers get into the market, but at the same time is going to make housing more affordable for all.