#housingaffordability

MalayalisNearMe Official

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๐Ÿ‘‰Deputy Prime Minister and Finance Minister Chrystia Freeland recently announced several housing affordability measures aimed at aiding first-time buyers and current homeowners. With the recent restrictions on foreign home buyers, newcomers to Canada may wonder if they qualify for these measures. The policies include increased RRSP withdrawal limits and extended mortgage terms, making home ownership more accessible. The Prohibition on the Purchase of Residential Property by Non-Canadians Act, in effect since January 1, 2023, and recently extended to January 1, 2027, restricts non-Canadians from buying residential property, but exceptions exist for certain situations.โœ… . ๐”๐ง๐ฅ๐จ๐œ๐ค ๐ฒ๐จ๐ฎ๐ซ ๐๐ซ๐ž๐š๐ฆ ๐ก๐จ๐ฆ๐ž ๐ฐ๐ข๐ญ๐ก ๐Œ๐š๐ง๐จ๐ฃ ๐Š๐š๐ซ๐š๐ญ๐ก๐š, ๐š๐ง ๐š๐ฐ๐š๐ซ๐-๐ฐ๐ข๐ง๐ง๐ข๐ง๐  ๐‘๐ž๐š๐ฅ๐ญ๐จ๐ซ ๐ข๐ง ๐Ž๐ง๐ญ๐š๐ซ๐ข๐จ. ๐‚๐š๐ฅ๐ฅ: +๐Ÿ (๐Ÿ”๐Ÿ’๐Ÿ•) ๐Ÿ๐Ÿ๐Ÿ”-๐Ÿ๐Ÿ”๐Ÿ”๐Ÿ“ ๐„๐ฆ๐š๐ข๐ฅ: ๐ฆ๐š๐ง๐จ๐ฃ@๐ญ๐ก๐ž๐œ๐š๐ง๐š๐๐ข๐š๐ง๐ก๐จ๐ฆ๐ž.๐œ๐จ๐ฆ @manojkaratha_realtor . . #HousingAffordability #Newcomers #Canada #FinanceMinister #HomeOwnership #RRSP #MortgageTerms #ForeignBuyers #mnm #malayalisnearmeapp #canadaupdate #canadanews

83 Views

5 months ago

MalayalisNearMe Official

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๐Ÿ‘‰A recent Leger poll for OMNI news highlighted how 83% of surveyed newcomers in Canada feel affordability challenges are hindering their settlement. Statistics Canada's study revealed that over a third of recent arrivals spend over a third of their income on rent. On February 6th, the federal government introduced measures to enhance affordability. Deputy Prime Minister Chrystia Freeland announced an additional $99 million to the Canada Housing Benefit, aiming to make rent more manageable. Other initiatives include the $4 billion Housing Accelerator Fund and the Tax-Free Home Savings Account for first-time homebuyers. Minister Franรงois-Phillipe Champagne announced increased funding for research into corporate practices affecting grocery prices, focusing on "shrinkflation" and "skimpflation."โœ… . ๐€๐ฎ๐ ๐ฎ๐ฌ๐ญ๐ข๐ง๐ž ๐‰๐จ๐ฒ ๐“๐š๐ฑ ๐๐ซ๐จ๐Ÿ๐ž๐ฌ๐ฌ๐ข๐จ๐ง๐š๐ฅ @taxesatjoy @augustine.joy_ ๐™Ž๐™ฉ๐™ช๐™™๐™š๐™ฃ๐™ฉ ๐™Ž๐™ช๐™ฅ๐™ฅ๐™ค๐™ง๐™ฉ ๐™‰๐™š๐™ฌ๐™˜๐™ค๐™ข๐™š๐™ง๐™จ ๐˜ผ๐™จ๐™จ๐™ž๐™จ๐™ฉ๐™–๐™ฃ๐™˜๐™š ๐˜ฝ๐™ช๐™จ๐™ž๐™ฃ๐™š๐™จ๐™จ ๐™๐™–๐™ญ ๐™จ๐™ค๐™ก๐™ช๐™ฉ๐™ž๐™ค๐™ฃ๐™จ ๐™Ž๐™ข๐™–๐™ก๐™ก ๐˜ฝ๐™ช๐™จ๐™ž๐™ฃ๐™š๐™จ๐™จ ๐˜พ๐™ค๐™ง๐™ฅ๐™ค๐™ง๐™–๐™ฉ๐™ž๐™ค๐™ฃ๐™จ ๐˜ผ๐™ช๐™™๐™ž๐™ฉ๐™ž๐™ฃ๐™œ ๐™๐™š๐™ฅ๐™ง๐™š๐™จ๐™š๐™ฃ๐™ฉ๐™–๐™ฉ๐™ž๐™ค๐™ฃ +๐Ÿ ๐Ÿ‘๐ŸŽ๐Ÿ” ๐Ÿ‘๐Ÿ๐Ÿ‘ ๐Ÿ”๐Ÿ—๐Ÿ–๐Ÿ— ๐ญ๐š๐ฑ๐ž๐ฌ๐š๐ญ๐ฃ๐จ๐ฒ@๐ ๐ฆ๐š๐ข๐ฅ.๐œ๐จ๐ฆ ๐ฐ๐ฐ๐ฐ.๐ญ๐š๐ฑ๐ž๐ฌ๐š๐ญ๐ฃ๐จ๐ฒ.๐œ๐š ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž ๐ฅ๐จ๐œ๐š๐ญ๐ข๐จ๐ง: ๐€๐ฅ๐ฅ ๐จ๐ฏ๐ž๐ซ ๐‚๐š๐ง๐š๐๐š ๐ž๐ฑ๐œ๐ž๐ฉ๐ญ ๐๐ฎ๐ž๐›๐ž๐œ . . #CanadianAffordabilityPolicies #HousingAffordability #GroceryCosts #NewcomerChallenges #GovernmentInitiatives #AffordableHousing #ConsumerResearch #CostofLivingConcerns #mnm #malayalisnearmeapp #canadaupdate #canadanews

113 Views

7 months ago

MalayalisNearMe Official

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๐Ÿ‘‰Edmonton, Canada, witnesses a surge in rental rates, reaching record highs and surpassing Calgary as the leader in rent inflation among large markets, as reported by Rentals.ca. The average monthly apartment rental rate in January hit $2,146 nationwide, reflecting an 11.6% increase from the previous year. Edmonton experienced a substantial 17.1% annual rise, bringing the average rental price to $1,479, while Calgary had a 12.8% increase, reaching an average price of $2,047. The province's average asking rent is now $1,690, marking a significant 17.8% uptick from the previous January.โœ… . ๐’๐ž๐œ๐ฎ๐ซ๐ž ๐ฒ๐จ๐ฎ๐ซ ๐๐ซ๐ž๐š๐ฆ ๐ก๐จ๐ฆ๐ž ๐ฐ๐ข๐ญ๐ก ๐๐ž๐ž๐ง๐š ๐•๐š๐ซ๐ ๐ก๐ž๐ฌ๐ž, ๐Ž๐ง๐ญ๐š๐ซ๐ข๐จ'๐ฌ ๐ฆ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐ž๐ฑ๐ฉ๐ž๐ซ๐ญ. ๐‚๐š๐ฅ๐ฅ: +๐Ÿ (๐Ÿ’๐Ÿ‘๐Ÿ•) ๐Ÿ—๐Ÿ–๐Ÿ-๐ŸŽ๐Ÿ–๐ŸŽ๐Ÿ’ @neena.robin . . #EdmontonRentals #CanadianRealEstate #RentalMarketTrends #HousingAffordability #EconomicImpact #RealEstateNews #CostofLivingConcerns #RentInflation #mnm #malayalisnearmeapp #canadaupdate #canadanews

111 Views

7 months ago

MalayalisNearMe Official

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๐Ÿ‘‰Deputy Prime Minister and Finance Minister Chrystia Freeland announced a two-year extension to the ban on foreign ownership of Canadian housing. With concerns over foreign money driving up real estate prices and impacting housing affordability, the ban, initially set to expire on January 1, 2025, will now remain in effect until January 1, 2027. This move aims to address worries about Canadians being priced out of housing markets in various cities. The government emphasizes its commitment to utilizing all available tools to enhance housing affordability, part of a broader economic plan that includes collaborative efforts with different levels of government to accelerate home construction.โœ… . ๐๐ž๐ฌ๐ญ ๐ˆ๐ง๐๐ข๐š-๐‚๐š๐ง๐š๐๐š ๐Ÿ๐ฅ๐ข๐ ๐ก๐ญ ๐๐ž๐š๐ฅ๐ฌ ๐š๐ฐ๐š๐ข๐ญ! ๐‘๐š๐ก๐ฆ๐š๐ง ๐“๐ซ๐š๐ฏ๐ž๐ฅ ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž๐ฌ (๐Ÿ”๐Ÿ’๐Ÿ•) ๐Ÿ–๐Ÿ–๐Ÿ—-๐Ÿ๐Ÿ•๐Ÿ•๐Ÿ”, ๐Ÿ—๐ŸŽ๐Ÿ“-๐Ÿ’๐Ÿ๐Ÿ-๐Ÿ๐Ÿ•๐Ÿ–๐Ÿ• ๐ฌ๐š๐ฅ๐ž๐ฌ@๐ซ๐š๐ก๐ฆ๐š๐ง๐ญ๐ซ๐š๐ฏ๐ž๐ฅ๐ฌ๐ž๐ซ๐ฏ๐ข๐œ๐ž๐ฌ.๐œ๐จ๐ฆ @rahmantravelservices . . #ForeignOwnershipBan #CanadianHousing #HousingAffordability #RealEstatePolicy #CanadianEconomicPlan #Homeownership #GovernmentInitiative #mnm #malayalisnearmeapp #canadaupdate #canadanews

82 Views

8 months ago

MalayalisNearMe Official

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๐Ÿ‘‰Commons, addressing the pressing issues of housing affordability and rising food prices takes centre stage. While discussions on bail reform, gun control, and climate change are anticipated, it is the soaring housing costs and grocery expenses that are likely to dominate parliamentary debates. Industry Minister Francois-Philippe Champagne kicks off the proceedings by meeting with leaders from Canada's largest grocery chains, aiming to develop a strategy to combat escalating food prices. Prime Minister Justin Trudeau has set a Thanksgiving deadline for the heads of Loblaws, Sobeys, Metro, Costco, and Walmart Canada to present a plan for price reduction; otherwise, government intervention may be considered.โœ… . . #HousingAffordability #RisingFoodPrices #ParliamentaryDebates #FoodPriceStrategy #CanadianGroceryChains #PriceReductionPlan #GovernmentIntervention #mnm #malayalisnearmeapp #canadaupdate #canadanews

178 Views

1 year ago

MalayalisNearMe Official

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๐Ÿ‘‰Prime Minister Justin Trudeau has announced a series of new measures to address growing concerns over the rising cost of housing and groceries in Canada. These initiatives were revealed following a Liberal caucus meeting in London, Ontario, during which government challenges and declining political support were discussed. Trudeau's plan includes removing the Goods and Services Tax (GST) from the construction of new rental apartments to stimulate development and requiring municipalities to revise exclusionary zoning policies to access housing funds. Additionally, major grocery retailers have been urged to develop short-term plans to stabilize food prices. Trudeau cautioned that if these plans aren't presented by Thanksgiving, the government is prepared to consider further actions, including potential tax measures.โœ… . . #TrudeauAnnouncement #HousingAffordability #GroceryPriceStabilization #CanadianEconomy #GSTRemoval #GovernmentInitiatives #CostOfLiving #mnm #malayalisnearmeapp #canadaupdate #canadanews

201 Views

1 year ago

MalayalisNearMe Official

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๐Ÿ‘‰Amidst the housing crisis, the Canadian government remains committed to its immigration plan while reevaluating the influx of international students. Various stakeholders, including academics, commercial banks, and policy analysts, have cautioned that rapid population growth due to immigration is exacerbating the housing affordability issue. Murtaza Haider, a professor at Toronto Metropolitan University, asserts that the inability to align housing construction with population increase is a primary contributor to the housing challenge. A recent report further warns that maintaining a high-growth immigration strategy could widen the housing shortfall by approximately 500,000 units within a mere two years. This delicate balance between immigration policies and housing needs remains a pressing concern as the government navigates the evolving situation.โœ… . . #HousingCrisis #ImmigrationPlan #StudentFlows #HousingAffordability #Canada #GovernmentPolicy #PopulationGrowthy #mnm #malayalisnearmeapp #canadaupdate #canadanews

203 Views

1 year ago

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