February 4, 2009
Canadian Real Estate Association Endorses Federal Budget
Did you know that the Canadian Real Estate Association (CREA) has officially endorsed federal government initiatives to stimulate the economy and home ownership? “The change announced to the popular Home Buyers’ Plan (HBP) will help Canadians who want to own their own home,” said CREA President Calvin Lindberg. The HBP will now allow first-time homebuyers to withdraw up to $25,000 (previously $20,000) from their RRSP for a down payment. Research conducted by CREA shows that each residential real estate transaction in Canada generates $32,200 in ancillary consumer spending. The study and other real estate facts are posted on the CREA website at http://www.crea.ca
