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In 2019, Prime Minister Justin Trudeau promised to help millennials hoping to buy a first home with a new program, called the First-Time Home Buyer Incentive. It was supposed to help 100,000 Canadians buy their first home but, according to real estate professionals, the program was doomed from the start.
To understand what has gone wrong, economics reporter Matt Lundy crunched the numbers. He explains why the program has fallen short of its goal and how it is failing to address the real problem in real estate.
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