Statement from Ontario Real Estate Association CEO Tim Hudak on “Canada’s Housing Plan”

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from GlobeNewswire

Published on April 12, 2024 • 1 minute read

TORONTO, April 12, 2024 (GLOBE NEWSWIRE) — “Today the federal government announced Canada’s Housing Planbefore the 2024 federal budget.

The Ontario Real Estate Association (OREA) joins the Canadian Real Estate Association in commending Prime Minister Trudeau and Minister of Housing, Infrastructure and Communities Sean Fraser for the actions in this plan aimed at ensuring that critical land, infrastructure and Zoning reforms are being carried out to get more houses built.

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While OREA was pleased to reintroduce the 30-year mortgage amortization for first-time homebuyers on new builds, we strongly believe this measure needs to be extended to all homebuyers and home types. As families look for a great place to settle down, their budget shouldn’t depend on whether they buy a newly built or used home. In the midst of a housing affordability crisis, many Ontario families, not just first-time home buyers, would benefit from easing the 30-year amortization of their mortgages.

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OREA is also pleased that several REALTOR®-led solutions we have championed to address the housing supply and affordability crisis are included in this plan:

– Tim Hudak, CEO of the Ontario Real Estate Association

For more information, please contact:

Jean Adrien Delicano
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416-459-6059