In Edmonton, Prime Minister Mark Carney announces that his government will eliminate the GST on all new homes under $1 million for first-time homebuyers. The prime minister also highlights another announcement he made earlier the day, committing $187 million to help Jasper rebuild after the 2024 wildfires. Responding to questions from reporters, Carney comments on his meeting earlier in the day with Alberta Danielle Smith and is asked about his commitment to building new pipelines to get energy to new markets. The prime minister is also a faces questions on the impact of U.S. tariffs on Alberta’s energy sector. (March 20, 2025)

First time home buyers will not be charged GST (5%) when buying a home, as long as the place they’re buying costs less than $1M. This means that people buying a home for the first time will save up to $50k on their purchase.

Edit: Note, GST is mostly only charged when buying newly built homes, so this won’t have any effect for people buying used homes.

  • Cyborganism@lemmy.ca
    2·
    22 hours ago

    Bought mine at 39. In 2019. And was only able to afford it because I have a partner with whom I bought it, who suddenly received a huge amount in backpay.

    • Kecessa
      1·
      17 hours ago

      As I said, experiences vary, but looking at statistics millennials are on average very well off and catching up on previous generations.

      • Cyborganism@lemmy.ca
        1·
        9 hours ago

        Yeah… but much, much later in life. And only because now they have years of experience on the job can only now request better salaries. In their 40’s! Half their life has gone by and only now are they getting slightly more comfortable financially.

        But they’re not as well off as you’d expect. Many have abandoned having kids and raising a family. Many are still priced out of the housing market. Many are still making sacrifices.

        Those that are better off are most likely from more privileged families.