What You Need to Know About the Federal Government’s Housing Plans
Throughout the month of April, the federal government made several announcements regarding housing in Canada and introduced the 2024 Budget.<\/p>\n\n\n\n
The Canadian Real Estate Association (CREA) is conducting ongoing analyses of these policies to understand both the impact to REALTORS® and the Canadian housing and real estate market as a whole.<\/p>\n\n\n\n
Here are a few of the important things REALTORS® should know about what’s been announced.<\/p>\n\n\n\n
- Canada’s Housing Plan<\/a>
- The government proposes to increase housing supply by:<\/a><\/li>
- The government proposes to make it easier for Canadians to rent or buy a home by:<\/a><\/li>
- The government proposes to help Canadians who can’t afford a home by:<\/a><\/li><\/ul><\/li>
- 2024 Budget<\/a>
- Capital Gains<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
Canada’s Housing Plan<\/strong><\/h2>\n\n\n\n
On Friday, April 12, 2024, the federal government announced Canada’s Housing Plan<\/em><\/a>, the first articulation of a “systems” approach to housing and home building – through skills, financing, home building methods, reducing approval barriers, and infrastructure tied to housing.<\/p>\n\n\n\n
It’s an extremely ambitious plan that acknowledges and aims to address housing affordability and supply across the continuum, something REALTORS®<\/sup> have been encouraging for years.<\/p>\n\n\n\n
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“Canada’s housing challenges have been building over many years and no one group can tackle it on their own. REALTORS®<\/sup> across Canada have been advocating for a collaborative, multi-faceted approach for years. We’re ready to play our part.”<\/p>\nJanice Myers, CREA CEO<\/cite><\/blockquote>\n\n\n\n
For nearly 40 years, CREA has engaged elected officials and government to discuss solutions and make recommendations on behalf of REALTORS®<\/sup>. We’re pleased to see Canada’s Housing Plan<\/em> reflects many of the recommendations we’ve put forth over the years to help address the challenges and needs facing Canadian property buyers, sellers, and renters.<\/p>\n\n\n\n
We applaud today’s release of “Canada’s Housing Plan” – the federal government’s comprehensive, multi-pronged approach to addressing Canada’s housing crisis.
The scope and ambition of this plan is encouraging, as is the first articulation of a “systems” approach to housing and…<\/p>— CREA","ACI (@CREA_ACI) April 12, 2024<\/a><\/blockquote>
- The government proposes to make it easier for Canadians to rent or buy a home by:<\/a><\/li>
- The government proposes to increase housing supply by:<\/a><\/li>
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