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The Missing Middle Initiative’s new report recommends that the federal government extend its GST rebate on new homes to seniors looking to downsize, aiming to alleviate Canada’s housing crisis by increasing the supply of family homes. The report highlights that high transaction costs, including GST and land-transfer taxes, discourage seniors from moving, exacerbating housing shortages and creating barriers for young families. With a significant number of empty rooms in Ontario due to empty nesters, addressing these issues could help boost the housing market and improve accessibility for younger generations.
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