Monday, October 26

Canada Mortgage and Housing Corporation

CMHC spending a quarter-million on federal home equity tax research
Canada, Canada Mortgage and Housing Corporation, Real Estate

CMHC spending a quarter-million on federal home equity tax research

The Canada Mortage and Housing Corporation is shelling out $250,000 to UBC’s School of Population to research the first-ever federal home equity tax, according to Blacklock’s Reporter.“The objective is to identify solutions that could level the playing field between renters and owners,” said CMHC spokesperson Audrey-Anne Coulombe.It’s being called the first CMHC-sponsored project via cabinet’s National Housing Strategy.Canadian homeowners currently don’t pay tax when they sell their primary residence.Coulombe said the UBC project Generation Squeeze complained “many Canadians bank on profits from home ownership to secure their financial future and gain wealth.”“This bound us to a catch-22: The more we made home ownership profitable, the more we made housing unaffordable,” sh...