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House Hansard - 58

44th Parl. 1st Sess.
April 26, 2022 10:00AM
Context: House Hansard - 58 - Apr/26/22
Mrs. Anna Roberts (King—Vaughan, CPC)
  • Apr/26/22 11:32:43 a.m.
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Madam Speaker, I have a question. Maybe the hon. member could help me understand. I am coming from the mortgage business in my previous life. If we look at page 45 in the budget book, the Liberals put out an example of how the tax-free savings account would work for first-time homebuyers. I have done the math. I have done everything possible for today and for 2027. As of today, that plan would allow individuals to purchase a home up to $355,000. In my riding of King—Vaughan, where the average price has increased 142%, that does not work. However, if we look at 2027, with the tax-free savings account where individuals could add $40,000, it would give them a $500,000 purchase price. We cannot find a house for $500,000 today. How are we going to find it in 2027? Could you please explain that to me? I would like to learn.
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