The recent federal budget had a slew of new spending programs aimed at making housing more affordable, but many of them are unlikely to pay dividends in the short term and have faced criticism in other ways.

Among the new changes is a move to offer first-time homebuyers a 30-year amortization period for newly built homes. That new rule comes as a new survey from CIBC shows the majority of Canadians feel home ownership is out of reach.

Most of the new initiatives are aimed at getting more housing built, which does little to help those struggling to stay on top of payments for the homes they already own.

Recent Bank of Canada data shows new mortgages with a debt service ratio of more than 25 per cent nearly tripled between 2021 and 2023.

Are you one of many Canadians struggling with housing debt in the current era of high-interest rates?

Are you concerned about your variable rate mortgage coming up for renewal? Are you close to filing for insolvency? Could a potential 30-year amortization help you as a first-time home buyer? wants to hear from you.

Share your story by emailing us at with your name, general location and phone number in case we want to follow up.

Your comments could be used in a story or live on May 3rd at 8:40 a.m. EDT by a licensed insolvency trustee.