New Budget Expected to Bring Good News for Canada Housing Industry, Predicts Expert from Syndicate Mortgages

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As Finance Minister Jim Flaherty Announces the New Canada Job Grant, Marcus Arkan from Syndicate Mortgages Explains How it Can Ultimately Facilitate the Housing Market

Major tabloids in Canada, including CTV News, reported that Mr. Jim Flaherty proposed a new Canada Job Grant in the Federal Budget 2013. Marcus Arkan, Canada housing market expert and CTO of leading mortgage brokerage Syndicate Mortgages, has announced that the job grant will play a major role in improving the housing market conditions in the country.

According to the official federal budget website, the proposed grant will provide up to $5,000 per person for job training. Up to 130,000 Canadians are likely to improve their job skills with the help of the newly proposed job grant. Speaking in terms of housing industry, Mr. Arkan said that the grant will have positive effects on the housing industry as well. He said, “The housing industry welcomes this effort and decision. The industry is in dire need of skilled workmen and labor. Due to the shortage of labor and work force, the affordability in the industry has suffered a major blow during the past few quarters. If the government continues these efforts, the situation will start to improve.”

Mr. Arkan further added that efforts are required both on the federal and private level. Similar concerns were raised by the head of the Canadian Home Builders’ Association, Mr. Deep Shergill, who according to Calgary Herald’s report stated that the shortage of labor translates into higher prices of homes in Canada. However, Mr. Shergill added that the federal budget has more room for improvement in this regard. He also suggested increase to the threshold on GST rebates for new home buyers. “We have urged the government to work more effectively and aggressively on this front,” Mr. Shergill said.

In complete agreement with Mr. Shergill, Mr. Arkan also emphasized the need to take more steps to improve affordability and increase labor force in the housing industry. “There is a lot of price correction required in the industry. ” He added, “Despite the low Canada mortgage rate, new buyers are ever more in doubt about their abilities to afford their own home in the future.” However, Mr. Arkan suggested that the effects of the new grant on the Canada housing industry are likely to become eminent in the near future.

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About Syndicate Mortgages Inc.
Syndicate Mortgages Inc. is one of the leading Canadian mortgage brokerage firms. Founded in 2008 in Ontario, the company specializes in residential, commercial and construction financing across Canada. With years of experience and expertise in the mortgage industry, and access to an array of lending institutions across Canada, Syndicate is known for finding the best mortgage rates for their customers. Syndicate has branch locations across Canada. For contact, please use the following details.

Contact Details
Syndicate Mortgages Inc.
Toll Free: (888) 646-1062
Email: info(at)smibroker(dot)com

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