Housing affordability seemed to be a priority of the 2022 Federal budget; however, it will remain to be seen how effective some of the actions will prove to be. Buying a home in Canada has become increasingly out of reach for many Canadians, but will this new budget be enough to change the current market?

“TRREB is encouraged that governments at all levels continue to make housing affordability a priority, but it is critically important that governments take actions that will have meaningful impacts. All levels of government should be implementing evidence-based initiatives that address the real cause of affordability challenges, which is an inadequate supply of homes for sale or rent,” said TRREB President Kevin Crigger.

While the Toronto Regional Real Estate board is in favour of the budget actions intended to increase housing supply, it did express concern when it came to the effectiveness of policies intended to suppress demand. In particular, they feel that the focus on...