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NEWSCONF/HOPKINS -5-

(PAUSE)

N He
MEET A
San
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Now a word about details. The Canadian Real Estate
Association's RRSP proposal for first-time home buyers
reflects a set of criteria defined for CREA by senior

officials in the Department of Finance...

Basically, it recommends that RRSP funds held by the
prospective home buyer be permitted to acquire a share
of equity in the property. This share would have the
characteristics of a downpayment, which could he
supplemented by any additional savings earmarked by the
household for homeownership purposes. The remaining
portion of the house price would be accounted for by a

requiar mortgage.