Latest news with #SeanFraser
Time of India
11 hours ago
- Business
- Time of India
A simple guide to buy a house in Canada, rules and regulations explained
Owning a home is something that every individual dreams of, but right now, it feels like a distant dream as Canada is in the middle of one of its worst housing crises. Realty prices are high, rental costs are rising, and there just aren't enough houses being built to keep up with demand. Housing Minister Sean Fraser recently said, "I think that we need to deliver more supply, make sure the market is stable. It's a huge part of our economy, but we need to be able to deliver more affordable housing." Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo The government is focusing on building more houses and helping first-time buyers with new mortgage rules, tax-free savings accounts, and longer repayment plans. Despite the challenges, there are still ways for many Canadians to buy their first house. Live Events Why is the crisis happening? Governments at all levels scaled back investments in housing for decades, failing to anticipate the needs of a growing population. As planning restrictions tightened and affordability declined, Canada fell behind in building houses for future generations. Municipal fees, limited high-density zoning, and retreating federal support all added to higher construction costs and delays. While renewed investments since 2017 sparked a wave of rental projects and first-time buyer support, post-pandemic pressures, rising interest rates, a booming population, and supply-chain challenges have reignited the crisis. Rents and home prices have continued to climb, leaving many young Canadians uncertain about their future. A growing number are now questioning whether they can afford a place to live today, or if they'll ever be able to own a home at all. Solving the housing crisis Prime Minister Mark Carney and the Liberal government have launched an unprecedented $36 billion housing plan, aiming to double Canada's new construction to nearly 500,000 units per year via the new Build Canada Homes initiative . This includes direct federal development of affordable housing on public lands, $25 billion in financing for prefabricated and modular-house builders (leveraging advanced materials like mass timber), and another $10 billion in low-cost loans to spur project starts. To reduce red tape and development costs, the plan halves municipal development charges for multi-unit buildings, revives the old Multiple-Unit Residential Building (MURB) investment tax allowance, and eliminates the GST for first-time homebuyers purchasing homes under $1 million, saving some up to $50,000. The government is also extending the Housing Accelerator Fund to entice provinces and cities to fast-track zoning reforms, easing the construction of "missing middle" houses like duplexes and triplexes. New laws and policies aim to make housing permanently affordable across Canada's diverse communities. Ottawa has signaled a commitment to ensure no household spends more than 30 percent of its income on shelter and is targeting support for Indigenous, newcomer, racialized, disabled, and vulnerable populations. The Affordable Housing and Groceries Act (Bill C‑56) removes GST on rental developments through 2030 to incentivize affordable builds. Financial mechanisms are being modernized as first-time buyers benefit from extended 30-year amortization on new homes, while mortgage and tax structures are being reviewed to expand choice and reduce borrowing costs. Canada's national housing plan aims to restore that dream by building more homes faster, lowering costs, and supporting the most vulnerable. But solving this crisis demands a united, 'Team Canada' effort across all levels of government and community. How can you still manage to own a house? Open a First Home Savings Account First-time buyers can save up to $8,000 annually, with a $40,000 lifetime limit, and enjoy tax-free withdrawals when buying a qualifying home. This program was introduced in 2023, and it helps reduce the financial barrier to entry. Contributions are also tax-deductible. Home Buyers Plan You can withdraw up to $60,000 from your RRSP tax-free (or $120,000 for couples) to buy your first home. Withdrawals made between 2022–2025 have a five-year grace period before repayment begins. Get your mortgage pre-approved A pre-approval shows sellers you're serious and financially prepared. It locks in an interest rate for 60–130 days and gives you a clear idea of your maximum budget. Most lenders now allow fully digital pre-approvals. Different lenders have different definitions and criteria for each step they offer. Co-signer is important If your income or credit history isn't strong, a co-signer, often a parent or close relative, can help you qualify for a larger loan. But remember, they share full legal responsibility for the mortgage if you default. Maximizing the down payment A down payment is the amount of money you put towards the purchase of a home. Your mortgage covers the rest of the price of the home. If you put down at least 20 percent, you won't need to pay mortgage insurance, which can cost thousands. Even a little extra can save you a lot over time. Research local and provisional incentives In 2025, many provinces will offer financial relief for first-time buyers. Ontario provides up to $4,000 in land transfer tax rebates, while British Columbia offers a full exemption (worth up to $10,000) on the property transfer tax for homes under $525,000. Nova Scotia and PEI have first-time homebuyer grants ranging from $5,000–$10,000. Some cities also offer pilot programs with matching down payments or reduced property taxes for affordable homes. These programs can significantly reduce your upfront costs.
Ottawa Citizen
a day ago
- Politics
- Ottawa Citizen
Justice minister says he doesn't like 'soft on crime' slogans, but won't 'diminish' those concerns
OTTAWA — Justice Minister Sean Fraser says that while he does not believe in using labels like 'soft on crime,' which critics employ to describe the justice system, he says it is important not to dismiss the concerns of those who use them. Article content 'I don't necessarily agree with the sloganeering approach, but that doesn't mean someone who may agree with it doesn't have a point that deserves the government's attention,' he told National Post in a recent wide-ranging interview on Wednesday. Article content Article content Article content Fraser enters the justice and attorney general portfolio at a time when premiers and police chiefs are pressing the federal government to further restrict access to bail, particularly in Ontario, as a strategy to stem the rising tide of auto thefts and home invasions, which police across the Greater Toronto Area and other regions of the country have reported. Article content Article content Making bail more difficult for those accused of these crimes, particularly when violence is used and when they are connected to organized crime, was a promise made by Prime Minister Mark Carney in late April's federal election, which saw the Liberals elected to a fourth term. Article content The Liberals also campaigned on a pledge to make bail harder for those charged with certain human trafficking and drug smuggling offences, as well as bringing in tougher sentencing guidelines for courts to follow for repeat offenders convicted of a home invasion or auto theft. Article content Article content Crime was a major focus of Conservative Leader Pierre Poilievre's campaign, with candidates handing out leaflets emblazoned with the percentages of how much car theft has increased in and around Toronto, where they flipped several seats from the Liberals. Article content Conservatives have continued to draw attention to crime rates by laying them squarely at the feet of what they describe as 'soft on crime' and 'catch-and-release' Liberal justice policies. Article content Fraser says the discussion around tightening bail is rooted in legal analysis and not 'exclusively on the increased scrutiny that you may see from the public or from another political party.' It is also a multi-jurisdictional matter, he points out, and touches on issues like training for judges and justices of the peace, as well as the shortage of Crown prosecutors, which the Liberals have pledged to tackle.
National Post
a day ago
- Politics
- National Post
Justice minister says he doesn't like 'soft on crime' slogans, but won't 'diminish' those concerns
OTTAWA — Justice Minister Sean Fraser says that while he does not believe in using labels like 'soft on crime,' which critics employ to describe the justice system, he says it is important not to dismiss the concerns of those who use them. Article content 'I don't necessarily agree with the sloganeering approach, but that doesn't mean someone who may agree with it doesn't have a point that deserves the government's attention,' he told National Post in a recent wide-ranging interview on Wednesday. Article content Article content Fraser enters the justice and attorney general portfolio at a time when premiers and police chiefs are pressing the federal government to further restrict access to bail, particularly in Ontario, as a strategy to stem the rising tide of auto thefts and home invasions, which police across the Greater Toronto Area and other regions of the country have reported. Article content Article content Making bail more difficult for those accused of these crimes, particularly when violence is used and when they are connected to organized crime, was a promise made by Prime Minister Mark Carney in late April's federal election, which saw the Liberals elected to a fourth term. Article content The Liberals also campaigned on a pledge to make bail harder for those charged with certain human trafficking and drug smuggling offences, as well as bringing in tougher sentencing guidelines for courts to follow for repeat offenders convicted of a home invasion or auto theft. Article content Crime was a major focus of Conservative Leader Pierre Poilievre's campaign, with candidates handing out leaflets emblazoned with the percentages of how much car theft has increased in and around Toronto, where they flipped several seats from the Liberals. Article content Article content Conservatives have continued to draw attention to crime rates by laying them squarely at the feet of what they describe as 'soft on crime' and 'catch-and-release' Liberal justice policies. Article content Fraser says the discussion around tightening bail is rooted in legal analysis and not 'exclusively on the increased scrutiny that you may see from the public or from another political party.' It is also a multi-jurisdictional matter, he points out, and touches on issues like training for judges and justices of the peace, as well as the shortage of Crown prosecutors, which the Liberals have pledged to tackle. Article content 'When we hear the scrutiny that may come from the public on an issue that's an early warning system that you should be looking into, has there been a change? What is underlying that change?'
Calgary Herald
a day ago
- Politics
- Calgary Herald
Justice minister says he doesn't like 'soft on crime' slogans, but won't 'diminish' those concerns
OTTAWA — Justice Minister Sean Fraser says that while he does not believe in using labels like 'soft on crime,' which critics employ to describe the justice system, he says it is important not to dismiss the concerns of those who use them. Article content 'I don't necessarily agree with the sloganeering approach, but that doesn't mean someone who may agree with it doesn't have a point that deserves the government's attention,' he told National Post in a recent wide-ranging interview on Wednesday. Article content Article content Article content Fraser enters the justice and attorney general portfolio at a time when premiers and police chiefs are pressing the federal government to further restrict access to bail, particularly in Ontario, as a strategy to stem the rising tide of auto thefts and home invasions, which police across the Greater Toronto Area and other regions of the country have reported. Article content Article content Making bail more difficult for those accused of these crimes, particularly when violence is used and when they are connected to organized crime, was a promise made by Prime Minister Mark Carney in late April's federal election, which saw the Liberals elected to a fourth term. Article content The Liberals also campaigned on a pledge to make bail harder for those charged with certain human trafficking and drug smuggling offences, as well as bringing in tougher sentencing guidelines for courts to follow for repeat offenders convicted of a home invasion or auto theft. Article content Article content Crime was a major focus of Conservative Leader Pierre Poilievre's campaign, with candidates handing out leaflets emblazoned with the percentages of how much car theft has increased in and around Toronto, where they flipped several seats from the Liberals. Article content Conservatives have continued to draw attention to crime rates by laying them squarely at the feet of what they describe as 'soft on crime' and 'catch-and-release' Liberal justice policies. Article content Fraser says the discussion around tightening bail is rooted in legal analysis and not 'exclusively on the increased scrutiny that you may see from the public or from another political party.' It is also a multi-jurisdictional matter, he points out, and touches on issues like training for judges and justices of the peace, as well as the shortage of Crown prosecutors, which the Liberals have pledged to tackle.
Vancouver Sun
a day ago
- Politics
- Vancouver Sun
Justice minister says he doesn't like 'soft on crime' slogans, but won't 'diminish' those concerns
OTTAWA — Justice Minister Sean Fraser says that while he does not believe in using labels like 'soft on crime,' which critics employ to describe the justice system, he says it is important not to dismiss the concerns of those who use them. 'I don't necessarily agree with the sloganeering approach, but that doesn't mean someone who may agree with it doesn't have a point that deserves the government's attention,' he told National Post in a recent wide-ranging interview on Wednesday. Fraser enters the justice and attorney general portfolio at a time when premiers and police chiefs are pressing the federal government to further restrict access to bail, particularly in Ontario, as a strategy to stem the rising tide of auto thefts and home invasions, which police across the Greater Toronto Area and other regions of the country have reported. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Making bail more difficult for those accused of these crimes, particularly when violence is used and when they are connected to organized crime, was a promise made by Prime Minister Mark Carney in late April's federal election, which saw the Liberals elected to a fourth term. The Liberals also campaigned on a pledge to make bail harder for those charged with certain human trafficking and drug smuggling offences, as well as bringing in tougher sentencing guidelines for courts to follow for repeat offenders convicted of a home invasion or auto theft. Crime was a major focus of Conservative Leader Pierre Poilievre's campaign, with candidates handing out leaflets emblazoned with the percentages of how much car theft has increased in and around Toronto, where they flipped several seats from the Liberals. Conservatives have continued to draw attention to crime rates by laying them squarely at the feet of what they describe as 'soft on crime' and 'catch-and-release' Liberal justice policies. Fraser says the discussion around tightening bail is rooted in legal analysis and not 'exclusively on the increased scrutiny that you may see from the public or from another political party.' It is also a multi-jurisdictional matter, he points out, and touches on issues like training for judges and justices of the peace, as well as the shortage of Crown prosecutors, which the Liberals have pledged to tackle. 'When we hear the scrutiny that may come from the public on an issue that's an early warning system that you should be looking into, has there been a change? What is underlying that change?' The involvement of organized crime has increased the number of car thefts in areas like Ontario, said Fraser, who on Wednesday met with the chief of Peel Regional Police to discuss the matter. Asked whether Canadians have a point when they say the country is 'soft on crime,' Fraser says he sees the issue differently. 'I think it's important that we don't operate in the space of slogans and sound bites, but that we don't diminish concerns that are raised when it comes to the very real issues that underlie those distinct issues that come forward.' 'So when I hear that kind of language, sometimes it reflects a desire to get something in the news because it's easy to communicate. But just because someone uses a slogan doesn't mean you should ignore a social fact that may underlie it.' With the House of Commons preparing to break for summer, Fraser says the government will be taking the next few months to hear from police and other stakeholders about other measures that may help address public safety, but said a bill ushering in some of the Liberals' platform commitments is expected to be tabled this fall. He is also still settling into his new role. Fraser has yet to have his first sit-down with Supreme Court Justice Richard Wagner, outside of an introductory call. Framed photos, which have yet to be hung, also sit around parts of Fraser's office, which is the same one the country's justice ministers have traditionally used. The weight of the role is not lost on Fraser, who graduated with a law degree from Dalhousie University and had a legal career before entering politics in 2015. 'You almost treat the attorney general role as an institution,' he said. The Liberals' upcoming bail reform measures represent the second time in the same number of years that the Liberals have enacted tougher measures. The last time was in 2023, when former justice minister Arif Virani shepherded through legislation aimed at repeat violent offenders and those accused of intimate partner violence, a move that followed calls from premiers and police chiefs, as well as the high-profile shooting death of a 28-year-old Ontario Provincial Police officer, where the accused had been released on bail. At the time, the Canadian Civil Liberties Association and other advocacy groups warned that toughening bail access would lead to an increase in the number of individuals who were legally innocent finding themselves in pre-trial detention and exacerbate the country's already high population of Indigenous and Black people in provincial jails. Fraser told National Post that while public scrutiny is part of what has put the issue around car theft and home invasions on the government's 'radar,' he said it is not the driving force. 'Public attention on an issue is one of many factors, but the public attention is not in and of itself what drives it. It's the public attention that reflects a problem that people see in their communities,' he said. He added the government would be 'remiss' to ignore what it has heard from parts of Ontario, even if he says 'that may not be the same level of noise' emanating from Pictou County, N.S., where he hails from. Fraser says the proposed Criminal Code changes do not reflect how 'the country is more dangerous today than it was yesterday,' given there has been a mix of certain types of crimes increasing, while other parts of the country have shown a more 'encouraging trend.' 'Law is very much responsive to social changes that take place in communities, he said. 'And that's a strength of a democracy, is that you have the opportunity to take feedback, not from just the people who administer the system, but the people for whom it is administered.' National Post staylor@ Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our newsletters here .
