Welcome guest.  ( Sign in )

Government says it is going to tackle housing affordability issues.

November 24, 2016

Affordability crisis suggestions

 
 
The Canadian government has come out and said it plans on tackling Canada's housing affordability issues. How that will be done remains to be seen, but one association has a few ideas.

What can the federal government do to tackle the housing affordability crisis in Canada?

A lot, according to the Canadian Home Builders’s Association.

Bob Finnigan, president of the CHBA, spoke with CREW about housing affordability in Canada. It’s one of the major issues currently plaguing the industry, according to Finnigan, who shared the association’s recommendations for addressing affordability the CHBA sent to the federal government.

In the document, entitled Continuing the conversation about homes, communities and Canadians, the CHBA provided a number of suggestions for just improving the housing situation in Canada.

It recommended increasing the minimum amortization to 30 years, which would create 80,000 potential family buyers who are well qualified, according to the association.

The CHBA also recommended the government provide 50% of funding for infrastructure to help relieve the tax burden currently placed on buyers of new homes.

A refundable home renovation tax credit for first-time buyers is another initiative the association argues will help provide some relief.

Other suggestions include; focusing federal research on bringing better built homes to market, harmonizing codes, standards, trades and qualifications, and opening training support to Canadians pursuing jobs as skilled workers, while also boosting employer-led training and immigration programs.

Affordability is an issue for many potential homebuyers – especially in the country’s larger markets – and the government officially launched a conversation about impriving affordability this year.

The Canadian government has unveiled its housing strategy plans, following months of consultation with Canadians and industry stakeholders.

“Affordable housing can connect individuals with the facilities and services they need to build secure, productive and meaningful lives for themselves.

Living close to jobs, public transportation and childcare enables people to participate fully in society and the economy,” Jean-Yves Duclos, minister of families, children and social development, said in the report, entitled What we heard: Shaping Canada’s national housing strategy. “A National Housing Strategy will align the efforts and resources of all players – governments, stakeholders in the private and non-profit sectors and others – toward improving housing outcomes for all Canadians.”

The housing plan has a ways to go before actual policy is implemented, however.

“The hard work continues. Needless to say, broad consultations indulge peoples’ expectations, as they should,” the report said. “However, policy makers must balance these against fiscal constraints. Our objective will be to develop an NHS that employs finite government funds to maximum effect, yielding the best outcomes.”

 

Looking to buy or sell a property? Visit us at Durham Bungalows.ca!

 

source: http://www.canadianrealestatemagazine.ca/news/affordability-crisis-suggestions-217526.aspx


Tagged with: housing affordability
| | Share

Boost your Credit Score regardless of age.

Originally posted on: April 26, 2018
Filed under: credit credit score
Credit scores are important. Many people are taking more time to review their scores and finding ways to improve them, especially younger consum ...

Green Ontario Fund Energy Rebates

Originally posted on: April 10, 2018
Last updated on: April 10, 2018
Filed under: green on greenon energy
If you have not heard of this, it is a Government Program to entice us to have a smaller carbon footprint and reduce energy costs. There are dif ...

History of Easter

Originally posted on: March 29, 2018
Last updated on: March 29, 2018
Filed under: easter history
Happy Easter Weekend! The Ancient Pagan Origins of Easter ...

How to protect your information.

Originally posted on: March 2, 2018
Last updated on: March 2, 2018
Filed under: online password protection
Many of us spend a lot of time online. We shop, use social media to connect with family and friends, send personal and business emails, pay bill ...

History of Valentine's Day

Originally posted on: February 14, 2018
Last updated on: February 14, 2018
Filed under: history valentine valentines
Happy Valentine's Day Everyone, If you have ever wondered how Valentine's Day start here is an article that goes over it. Plea ...
Sales Representative


Durham Bungalows
Brokerage
Independently owned and operated.

420 Green Street #105
Whitby, ON L1N 8R1


Phone: 1-289-274-2273
Powered by Lone Wolf Real Estate Technologies (CMS6)