👉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.✅ . 𝐔𝐧𝐥𝐨𝐜𝐤 𝐲𝐨𝐮𝐫 𝐝𝐫𝐞𝐚𝐦 𝐡𝐨𝐦𝐞 𝐰𝐢𝐭𝐡 𝐌𝐚𝐧𝐨𝐣 𝐊𝐚𝐫𝐚𝐭𝐡𝐚, 𝐚𝐧 𝐚𝐰𝐚𝐫𝐝-𝐰𝐢𝐧𝐧𝐢𝐧𝐠 𝐑𝐞𝐚𝐥𝐭𝐨𝐫 𝐢𝐧 𝐎𝐧𝐭𝐚𝐫𝐢𝐨. 𝐂𝐚𝐥𝐥: +𝟏 (𝟔𝟒𝟕) 𝟐𝟐𝟔-𝟐𝟔𝟔𝟓 𝐄𝐦𝐚𝐢𝐥: 𝐦𝐚𝐧𝐨𝐣@𝐭𝐡𝐞𝐜𝐚𝐧𝐚𝐝𝐢𝐚𝐧𝐡𝐨𝐦𝐞.𝐜𝐨𝐦 @manojkaratha_realtor . . #HousingAffordability #Newcomers #Canada #FinanceMinister #HomeOwnership #RRSP #MortgageTerms #ForeignBuyers #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉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 François-Phillipe Champagne announced increased funding for research into corporate practices affecting grocery prices, focusing on "shrinkflation" and "skimpflation."✅ . 𝐀𝐮𝐠𝐮𝐬𝐭𝐢𝐧𝐞 𝐉𝐨𝐲 𝐓𝐚𝐱 𝐏𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥 @taxesatjoy @augustine.joy_ 𝙎𝙩𝙪𝙙𝙚𝙣𝙩 𝙎𝙪𝙥𝙥𝙤𝙧𝙩 𝙉𝙚𝙬𝙘𝙤𝙢𝙚𝙧𝙨 𝘼𝙨𝙨𝙞𝙨𝙩𝙖𝙣𝙘𝙚 𝘽𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙏𝙖𝙭 𝙨𝙤𝙡𝙪𝙩𝙞𝙤𝙣𝙨 𝙎𝙢𝙖𝙡𝙡 𝘽𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝘾𝙤𝙧𝙥𝙤𝙧𝙖𝙩𝙞𝙤𝙣𝙨 𝘼𝙪𝙙𝙞𝙩𝙞𝙣𝙜 𝙍𝙚𝙥𝙧𝙚𝙨𝙚𝙣𝙩𝙖𝙩𝙞𝙤𝙣 +𝟏 𝟑𝟎𝟔 𝟑𝟏𝟑 𝟔𝟗𝟖𝟗 𝐭𝐚𝐱𝐞𝐬𝐚𝐭𝐣𝐨𝐲@𝐠𝐦𝐚𝐢𝐥.𝐜𝐨𝐦 𝐰𝐰𝐰.𝐭𝐚𝐱𝐞𝐬𝐚𝐭𝐣𝐨𝐲.𝐜𝐚 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧: 𝐀𝐥𝐥 𝐨𝐯𝐞𝐫 𝐂𝐚𝐧𝐚𝐝𝐚 𝐞𝐱𝐜𝐞𝐩𝐭 𝐐𝐮𝐞𝐛𝐞𝐜 . . #CanadianAffordabilityPolicies #HousingAffordability #GroceryCosts #NewcomerChallenges #GovernmentInitiatives #AffordableHousing #ConsumerResearch #CostofLivingConcerns #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉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.✅ . 𝐒𝐞𝐜𝐮𝐫𝐞 𝐲𝐨𝐮𝐫 𝐝𝐫𝐞𝐚𝐦 𝐡𝐨𝐦𝐞 𝐰𝐢𝐭𝐡 𝐍𝐞𝐞𝐧𝐚 𝐕𝐚𝐫𝐠𝐡𝐞𝐬𝐞, 𝐎𝐧𝐭𝐚𝐫𝐢𝐨'𝐬 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐞𝐱𝐩𝐞𝐫𝐭. 𝐂𝐚𝐥𝐥: +𝟏 (𝟒𝟑𝟕) 𝟗𝟖𝟐-𝟎𝟖𝟎𝟒 @neena.robin . . #EdmontonRentals #CanadianRealEstate #RentalMarketTrends #HousingAffordability #EconomicImpact #RealEstateNews #CostofLivingConcerns #RentInflation #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉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.✅ . 𝐁𝐞𝐬𝐭 𝐈𝐧𝐝𝐢𝐚-𝐂𝐚𝐧𝐚𝐝𝐚 𝐟𝐥𝐢𝐠𝐡𝐭 𝐝𝐞𝐚𝐥𝐬 𝐚𝐰𝐚𝐢𝐭! 𝐑𝐚𝐡𝐦𝐚𝐧 𝐓𝐫𝐚𝐯𝐞𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 (𝟔𝟒𝟕) 𝟖𝟖𝟗-𝟐𝟕𝟕𝟔, 𝟗𝟎𝟓-𝟒𝟏𝟐-𝟐𝟕𝟖𝟕 𝐬𝐚𝐥𝐞𝐬@𝐫𝐚𝐡𝐦𝐚𝐧𝐭𝐫𝐚𝐯𝐞𝐥𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬.𝐜𝐨𝐦 @rahmantravelservices . . #ForeignOwnershipBan #CanadianHousing #HousingAffordability #RealEstatePolicy #CanadianEconomicPlan #Homeownership #GovernmentInitiative #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉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.✅ . . #HousingAffordability #RisingFoodPrices #ParliamentaryDebates #FoodPriceStrategy #CanadianGroceryChains #PriceReductionPlan #GovernmentIntervention #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉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.✅ . . #TrudeauAnnouncement #HousingAffordability #GroceryPriceStabilization #CanadianEconomy #GSTRemoval #GovernmentInitiatives #CostOfLiving #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉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.✅ . . #HousingCrisis #ImmigrationPlan #StudentFlows #HousingAffordability #Canada #GovernmentPolicy #PopulationGrowthy #mnm #malayalisnearmeapp #canadaupdate #canadanews