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However, many retirees—including me—have grown children struggling to get onto the first rung of the real estate ladder. Coming up with a down payment is still difficult. Home prices have fallen since interest rates started to rise in 2022, but mortgage affordability is still an issue for many young Canadians just starting out in their careers.
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All of which makes the new first home savings account (FHSA) timely: Scheduled to debut on April 1, 2023, the FHSA is a much-talked about financial product right now. See some excellent blogger commentary on the topic, notably this one from Dale Roberts’ cutthecrapinvesting…