I think you could expect not only those who are constrained by their RRSP and TFSA limits to open a first home savings account. In fact, the tax treatment of a first home savings account is preferential to what it is for either of those two other vehicles. We'll see. Every individual will make their choice, but you can expect that if people are looking to save for a home, over time a good number will probably see this as their number one option.
On November 21st, 2022. See this statement in context.