THE CANADIAN PRESS Jonathan Hayward
The federal Liberals have several options as they look for ways to help more millennials buy homes in an era of pricey real estate and rising borrowing costs, housing experts say.
Finance Minister Bill Morneau said earlier this week Ottawa is exploring measures to make home ownership affordable for more millennials, a generation made up of people who are now in their mid-20s to late-30s.
Morneau didn't elaborate on what options he's considering, but Canadians could learn more in the coming weeks when he releases an election-year budget that will also lay out Liberal platform commitments.
Major political parties have already started positioning themselves on the complex area of housing affordability. It will likely emerge as an important campaign issue ahead of October's federal election, and the challenges of millennials and first-time buyers could attract a lot of attention.
"There's no silver bullet to making housing more affordable for younger generations," Paul Kershaw, an associate professor in the University of British Columbia's school of population and public health, wrote in an email Wednesday.
"What we need to do is modernize outdated policies that make the regular housing market inefficient."
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