Federal Budget to Target Housing Affordability, Support for First-Time Buyers

Measures expected to include reintroduction of 30-year amortizations and policies to boost housing supply.

Canada's federal budget next month is expected to focus on housing affordability, with measures to support first-time homebuyers.
The Canadian Home Builders' Association (CBHA) suggests reintroducing 30-year amortizations on insured mortgages for first-time buyers of new homes to improve affordability.
Homebuilder sentiment has reached a record low, reflecting industry concerns over meeting housing targets amid a slowing construction sector.
The CBHA recommends policies to reduce barriers for builders and eliminate GST on purpose-built rentals to address long-term housing supply issues.
Interest rate cuts alone are insufficient to address the housing supply challenge, emphasizing the need for comprehensive policy changes.