Federal budget's mortgage help is of limited assistance in markets like Metro Vancouver

The mortgage help for first-time homebuyers included in the recent federal budget sounds like a good deal to Maple Ridge heavy-equipment operator Ben Desautels, but he fits into a sweet spot of buyers that the program targets.
With a formula that hits its upper limit at properties worth $500,000, however, the shared-equity mortgage program through the Canada Mortgage and Housing Corp. will have a limited impact in Metro Vancouver, leaving many underwhelmed by the measure.
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