The federal Liberals capped off a run of pre-budget housing announcements with new pledges, including plans to crack down on mortgage and real estate fraud and to restrict the purchase of existing single-family homes by large, corporate investors, and to provide low-interest loans of up to $40,000 for secondary suites.
He said where possible, public lands should remain public lands, with Ottawa entering into long-term leases over the life cycle of the buildings that will be constructed. The government also said Thursday, without providing much in the way of details, it will allow some existing borrowers to permanently extend their amortization period so that they can reduce their monthly mortgage payment to a level they can afford.
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