Toronto housing advocates are expressing concerns that the latest federal budget doesn’t go far enough to address the GTA’s persistent affordability and supply issues. While the budget pledges significant investment in housing, critics argue it lacks concrete plans to incentivize private sector involvement and achieve ambitious construction targets. The Canada Mortgage and Housing Corp. estimates a need for 430,000 to 480,000 new housing units per year to restore affordability to 2019 levels, a target that would require doubling the current construction pace. Experts are questioning the reliance on the “Build Canada Homes” agency and the limited scope of GST relief for first-time buyers. For a deeper dive into the budget’s implications for the GTA real estate market, check out the original article on CTV News.
Read the original story here: https://www.ctvnews.ca/business/real-estate/article/budgets-housing-promises-not-enough-to-solve-affordability-supply-issues-advocates/
