First-timer buyers expect a glimpse of hope from Sousa

With an increase in expectations about what Finance Minister Charles Sousa’s decisions will be next week, HE is not helping matters by remaining silent at such a crucial time.

Nevertheless, the had disclosed on Tuesday that the Ontario government will not be following the steps of Vancouver of making a tax on foreign investors to address the home price situation.

But he hinted that first-time home buyers will be taken into consideration on Monday’s fall economic statement. Ontario will be making use of different measures to address Toronto’s home prices as housing prices have become a major concern for all Canadians, most especially for first-time buyers in Toronto.

He told a Canadian Club luncheon that domestic real estate have been very beneficial to the Canadian economy and has also improved on the financial security of home owners. But high home prices have prevented first time owners from not fulfilling their dreams of owning a property.

Souse however did not reveal what decision he will take or whether he will introduce a land tax on first time buyers.

This strategy was first introduced in 1999 by the then Progressive Conservative premier Mike Harris.

Speaking on the subject, Sousa highlighted that his decision will help the legislation form a contemporary financial services regulatory authority, which will modernize and improve regulation of financial services.

According to the treasurer, it will be consumer- prioritized which will solely focus on the needs of consumers.

Sousa expressed that he is fully assured that they are on the right track to normalize the current market status.