Our finance minister Freeland (or is it Mark Carney) announced this week that the limit for CMHC insured mortgages for first time homebuyers will be increased to $1.5M.
Starts December first, although details still have to be worked out.
Let's see what the realtor/mortgage peeps think:

A few short years ago, these numbers were beyond people's wildest dreams.
Plus life.
Don't forget to claim your FTHB rebate!
The way I see it, they are paying interest on the taxes and CMHC fees for 30 years.
Taxes, permits, municipal and provincial fees add account for 30% of a new home purchase.
Government is doing this to try to save the housing/construction industry as it accounts for 40% of GDP.
Same with the recent and forthcoming interest rate cuts, normies think this is a good thing. It signals higher unemployment, recession and inflation picking back up.