The 2025 federal budget, the first under Prime Minister Mark Carney, has sparked debate among housing advocates in the GTA. While the government pledges $25 billion over five years to address the “steep housing supply gap,” many argue it falls short of what’s needed to restore affordability. The Canada Mortgage and Housing Corp. (CMHC) estimates a need for 430,000 to 480,000 new units annually for the next decade to return to 2019 affordability levels – roughly double the current construction pace. Experts question the reliance on Build Canada Homes and the lack of incentives for private sector involvement. Read on to explore the potential impact on the GTA’s housing market and the challenges ahead. [Link to original article]
Read the original story here: https://www.ctvnews.ca/business/real-estate/article/budgets-housing-promises-not-enough-to-solve-affordability-supply-issues-advocates/
