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NATIONAL REAL ESTATE SERVICE

September 26, 1991

Ms. Susan Rauh

City Hall, Port Coquitlam
2580 Shaughnessy
Port Coquitlam, B.C.
V3C 3G3

Dear Ms. Rawh:

As requested, here is the back up material on the proposal by the Canadian
Real Estate Association which would allow first-time home buyers to use RRSP
contributions as a down payment. | have included the initial Press Reiease sent
out by CREA, the remarks by Bill Hopkins, President of CREA, made at the news
conference and some of the newspaper stories which appeared following the

release.

Thank you for taking the time to investigate this further. We in the real estate
industry do believe it is time to help first tirne home owners get into the market.
We are all co-operating to try to implement a plan that will achieve this. As you
can see from reading the material, much thought has been given to this
proposal.

Whatever support your Mayor and Council can give this plan is much
appreciated.

'Sineerely,
(7

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Patricta Soles
Corporate Communications
National Real Estate Service

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