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Freeland touts home savings account, notes limits to addressing housing crisis (www.castanet.net)
submitted 3 years ago by to c/canada@lemmy.ca
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Deputy Prime Minister Chrystia Freeland says the uptake of a new savings account for first-time homebuyers is exceeding expectation, though she acknowledged the limits of what it can do to address affordability.

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[–] 2 points 3 years ago

The TFSA has a limit of $40k and you can "only" save $8k/year. So you wouldn't be able to get an actual down payment in there anyway.

But yeah, point taken. The TFSA is an insufficient response to a real problem.

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