Monday, 02 March 2026
By Kinza Mahmood
Shawn Stillman quoted in The Financial Post: “Home Buyers’ Plan was invitation to disaster for young Canadians who bought at market peak”
Here is a more measured and professional version:
In his analysis of Canada’s Home Buyers’ Plan, Shawn Stillman, Co-founder of Mortgage Outlet, raises important questions about the program’s long-term impact on affordability and financial security.
Stillman suggests that while the policy was designed to help first-time buyers enter the housing market, enabling withdrawals from RRSPs may have unintentionally increased demand without addressing underlying supply constraints. In competitive markets, he notes, additional purchasing power can place upward pressure on home prices.
He also highlights the potential trade-offs involved in using retirement savings to fund a home purchase. Drawing from RRSPs reduces the benefits of long-term compounding and requires disciplined repayment, factors that can affect future retirement outcomes if not carefully managed.
As Stillman observes, the Home Buyers’ Plan was “an invitation to disaster for Canadians,” emphasizing his view that well-intentioned policies can carry unintended consequences when broader market dynamics are not addressed.
Overall, Stillman’s perspective encourages a balanced discussion about housing policy — one that considers both immediate access to homeownership and long-term financial resilience for Canadians.
