Freeland Says Dream of Home Ownership ‘Alive and Well’ Despite High Interest Rates

Finance Minister Chrystia Freeland says the Canadian dream of buying a first home is “alive and well,” despite current high interest rates. “Last week I announced that there are now more than 500,000 tax-free first home savings accounts; that’s really important because what that shows is the dream of buying your first home is alive and well, and Canadians are investing in that dream,” Ms. Freeland said Jan. 22 during a press conference at a federal cabinet retreat in Montreal. Reporting on the main topics of conversations at the retreat, which was aimed at supporting the middle class, Ms. Freeland mentioned the apartment loan construction program, which she said is on track toward getting 100,000 more apartments built. The government’s Housing Accelerator Fund, which is meant to spur the creation of housing supply, will “deliver 300,000 new homes,” she said....