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Reaction to the 2022 Budget Housing Initiatives

2022 04 22 8 25 14

Heading into Thursday’s federal budget, it was no secret that measures aimed at addressing housing affordability would figure prominently.

The general consensus following the release of the budget was that the measures are unlikely to do much to improve the situation for first-time buyers struggling to purchase a home, particularly with average prices up over 50% since before the pandemic.

“All in all, while we believe these measures will help to provide some relief in the housing market, they will be challenged to meet the need for increased supply that plagued the Canadian real estate sector even prior to the pandemic,” economists from Desjardins wrote in a research note.

There were positive aspects, however, particularly related to the government’s commitment on the supply side of the equation, along with plans to end the practice of blind bidding.

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in Economy & Government

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Jon Nichols

Jon Nichols
CIR Realty
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Denise Nichols
CIR Realty
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Asebree Rephotography Joel Nichols Century21 3

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CIR Realty
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