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Cartoon house character juggling stacks of cash and buildings with for sale signs
Posted Bank News

Part 2: Beating the Math: How Buyers Can Win in a Broken Mortgage Market

(click here to read Part 1: Breathing the Math: Why Politicians are failing Canadians and what you can do.)

If you are a first-time buyer trying to get into today’s market, you cannot wait for the government to save you. Take back control of your own life.  There are old-school strategies and a few specific tools you can leverage to force your way through the door.

1. “House Hacking” (Rent a Portion Out)

This isn’t a new concept. Exactly 31 years ago, I bought my first house, and the only way I could make the math work was by renting part of it out. Having a tenant pay down my mortgage is exactly how I built my equity. Look for properties with secondary suites or basement apartments. Use that projected rental income to help you qualify for the mortgage and cover your carrying costs.

2. Maximize the RRSP Home Buyers’ Plan (HBP)

The government recently enhanced this, and it is a game-changer.

  • The Limits: You can now withdraw up to $60,000 per person (or $120,000 per couple) from your RRSP entirely tax-free.
  • The Strategy: This cash doesn’t just have to be for the down payment. It can be used to cover massive closing costs, land transfer taxes, and legal fees. You have up to 15 years to pay it back into your RRSP, making it a highly effective self-loan.
Continue reading “Part 2: Beating the Math: How Buyers Can Win in a Broken Mortgage Market”
Cartoon house character juggling stacks of cash and buildings with for sale signs
Posted Bank News

Part 1: Beating the Math:  Why Politicians Are Failing Homebuyers and What you can do.

If you are trying to buy a house in Canada right now, the math is completely broken. Instead of treating the root causes of the housing crisis, politicians are serving up PR stunts that do very little to actually put keys in the hands of hardworking Canadians. Let’s look at the reality of the situation.

The HST Discount Reality Check

There has been a lot of government buzz around temporary tax discounts on new home purchases. On March 25, 2026, the Ontario government announced a temporary expansion of the Harmonized Sales Tax (HST) rebate. This new proposal promises to eat up the entire 13% HST (the 8% provincial and 5% federal portions) for all buyers, up to a maximum rebate of $130,000 for homes priced up to $1 million.

Continue reading “Part 1: Beating the Math:  Why Politicians Are Failing Homebuyers and What you can do.”
Posted Bank News

Mortgage expert alert: Will the Iran War and rising inflation offer a buying opportunity in 2026?

Escalating tensions in the Middle East have erupted into war between the US and Iran. Spiking oil prices from Strait of Hormuz blockages are already having an immediate, aggressive impact on your wallet, your household expenses, and crucially, your mortgage.

Historically, moments of extreme global panic can create generational buying opportunities in the Canadian real estate market.

Iran war’s instant tax on household expenses

When a major conflict breaks out in the Middle East disrupting 20% of the world’s oil consumption and LNG trade through the Strait of Hormuz, global energy markets panic.

Over the last month, global crude oil prices have surged significantly. As a result, gasoline has risen to a national average of $1.80 per liter according to CAA figures on April 6, just under year highs. This isn’t an isolated cost at the pump but an immediate, cascading tax on your entire household. Continue Reading …

I hope you will enjoy this article and if you have any questions or would like to discuss I am always available.

Your best interest is my only interest. I reply to all questions and I welcome your comments. Like this article? Share with a friend.

Steve Garganis: 416-224-0114; steve@canadamortgagenews.

Posted 2 Comments on House Poor is Out. “Kid Poor” is In. Case study

House Poor is Out. “Kid Poor” is In.

Why the cost of modern parenting is drowning families—and how to be the adult in the room to fix it.

This is an article I began writing 8 months ago. I delayed publishing it because my inner circle said I would get a lot of hate mail.. Well, after seeing more families fall into these situations, I have to speak out.  For what it’s worth, I softened the wording to make this easier to digest.  

Every parent shares a universal instinct: the desire to give their children the world. We feel a heavy, almost biological responsibility to provide every opportunity life has to offer. In previous generations, this was simpler. Forty years ago, parenting often meant handing a child a stick and a ball, or a cardboard box, and telling them to play outside until the streetlights came on.

Continue reading “House Poor is Out. “Kid Poor” is In.”
Posted Bank News

Ask the mortgage expert: How to buy a home in 2026, between budgets, builders, and opportunities

Every year, homebuyers across Canada hold out for the silver bullet—a policy change that will suddenly make the path to homeownership clearer.

From tax reforms to supply-side stimulus, the landscape is changing. The question is: Are these changes enough to bridge the gap between supply and demand, and how can you leverage them to your advantage?

While there is rarely a single “fix” for a market as complex as ours, the most recent budget cycles and policy updates have introduced significant shifts that every homebuyer needs to understand. Continue Reading ….

I hope you will enjoy this article and if you have any questions or would like to discuss I am always available.

Your best interest is my only interest. I reply to all questions and I welcome your comments. Like this article? Share with a friend.

Steve Garganis: 416-224-0114; steve@canadamortgagenews.