Real Estate News

Canadian Real Estate Association Wants Parents To Raid RRSPs To Help Their Kids Buy A Home


The Canadian Press/ Jonathan Hayward

The federal government should allow parents who want to help their offspring with the purchase of a home to tap into their retirement savings, says The Canadian Real Estate Association, which also wants the maximum withdrawal limit bumped up by $10,000.

Extending the Home Buyers' Plan to allow for "intergenerational RRSP loans" would ease the financial burden that many young Canadians face when trying to purchase a home for the first time, wrote CREA in its 2018 pre-budget submission to the House of Commons Standing Committee on Finance.

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