Ontario plans to waive its portion of the HST on new homes for first-time homebuyers. This comes as the Ford government attempts to stimulate the province’s slumping home sales and revamp today’s housing starts. Frank Napolitano, a Founding Partner of Mortgage Brokers Ottawa, says it gives some hope to younger buyers who thought that home ownership was slipping away from their grasp, especially now that interest rates are falling. However, if the province wants to see a significant uptick on construction, opening up this policy to homebuyers of all ages is the way to go. Napolitano joins Kristy Cameron on today’s Ottawa Now.
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