What makes Ottawa. The Trudeau government wants to become a partner of home buyers – new details from the First Time Buyer Incentive Program show this. If you buy a house or apartment for the first time and have incomes below $ 120,000 a year, then Canada Mortgage and Housing Corporation can contribute up to 10 percent of the cost of housing as an interest-free loan. The total cost of housing debt, including the government’s share, should not exceed $ 480,000, and the buyer must make a down payment of at least 5 percent. Finally, the program covers both new and secondary housing. According to the government, when buying a home worth half a million dollars, its owners will be able to save 75.6 thousand dollars over 25 years by reducing the size of the housing loan. But the government will not remain without a profit: home buyers will have to return to Ottawa not the original loan amount, but an adequate percentage of the cost of housing at the time of sale. And the difference in the amount received and returned can be quite substantial. Applications for the First Time Buyer Incentive Program are accepted from September 2.
Resettlement of immigrants.
Will it be possible to unload megacities? Nearly 80 percent of new immigrants settle in Canada’s three main cities – Toronto, Montreal and Vancouver. The new initiative of Justin Trudeau’s government is aimed at this problem, the essence of which is the resettlement of immigrants in the cities of the western and northern part of the country. For this experiment, five cities in Ontario were selected – North Bay, Timmins, Sudbury, Sault Ste. Marie and Thunder Bay, as well as Manitoba, British Columbia, Saskatchewan and Alberta. Immigration candidates will be selected directly on site with the assistance of the Federal Ministry of Immigration. Canadian Immigration Minister Ahmed Hussen believes that this initiative will help replenish the population and revitalize the economy in places where young people and people of active age are leaving. The first settlers of this program should arrive in 2020.