Wai Young Fights to Help First-Time Home Buyers
October 10th, 2019
FOR IMMEDIATE RELEASE
Vancouver, British Columbia- Conservative Candidate Wai Young pledges to fight for families in Vancouver South to achieve their dream of home ownership.
“After canvassing the whole riding, I have met with many families who feel that their dream of one day owning a home is becoming more distant.” Says Wai Young. “Sadly, with the endless parade of Liberal tax hikes and arbitrary barriers like the Mortgage Stress Test, we don’t have to look far to see the source of their frustrations. More than 80% of middle class families are paying $800 more in taxes a year since Trudeau was elected in 2015 and are barely able to pay their bills at the end of the month - let alone save up for a down-payment on a home.” – Wai Young
The Conservative’s four-point plan to help home ownership was announced by Andrew Scheer last month. The plan commits to:
- Revising the Mortgage Stress Test to help home ownership, rather than hurt it
- Increasing the amortization periods on insured mortgages to 30 years for first-time homebuyers, which will lower monthly payments
- Launching an inquiry into money laundering in the real estate sector, to stop the inflation of housing prices
- Making surplus federal real estate available for development to increase the housing supply
A Conservative government is also committed to working with provinces and municipalities to reduce regulatory barriers that prevent the construction of new homes. This will decrease overall market prices.
“I believe that families in Vancouver deserve the chance to achieve their dream of home ownership. We understand that Canadian families work hard to pay their bills, as well as to save and invest in their future. Their government should be helping them - not standing in their way.” adds Young.
As voters head to the polls on October 21st, they will remember how expensive life has become under Justin Trudeau’s Liberal policies. A Conservative government is committed to making life more affordable for Canadian families, by putting more money in their pockets so they can get ahead.