.CHBANational is urging the federal government to implement policies to combat inflation.
The federal government says there is a need to double housing starts and build 5.8 million new homes over the next decade to address the current housing supply crisis.
“The challenge was that it was driving house prices up, but it was resulting in more homes being built,” explained Lee. “Hopefully interest rates are going to come down as everybody expects over the next year or two, but even at that point we need to not just get back to business as usual…we need to be increasing our housing starts so we’re going to need some policy help to make that happen,” Lee said.“We really feel like we need to get 30-year amortizations for insured mortgages for well-qualified first-time buyers,” he said.
“Right now you can get the GST rebate if your house is less than $350,000. Well in a lot of urban centres that’s not possible. You can’t get any house, any home, even a condo in some cases, for less than that,” Lee said.“One of the things that’s happened over the past two to three decades is we’ve had very little purpose-built rental,” said Lee.
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