From September 30 to October 2, RAHB was in Ottawa for CREA’s Political Action Committee (PAC) Days.
CREA also presented two major recommendations/asks that PAC reps were to address with their MPs during meetings scheduled in Ottawa:
- Increasing the First Time Home Buyers’ Tax Credit from $750 to $2,500
- Evaluating policies that affect home ownership, i.e. consider the stress test in a regional perspective
Unfortunately, RAHB reps were unable to meet with all MPs who represent RAHB’s market area due to scheduling conflicts. RAHB will continue to reach out to our MPs over the next year as we lead into the next federal election, and we encourage RAHB members to do the same. If you have any questions about CREA’s PAC Days or the resources above, please do not hesitate to contact Wendy Stewart at firstname.lastname@example.org.
With the release of the 2019 Federal Budget, RAHB is pleased to see items that focus specifically on affordable housing. RAHB has worked with CREA and other boards/associations across Canada to advocate for change and leadership on this issue. There is still much more we and the Federal Government, as well as governments at the provincial and municipal levels, can do to further this issue in the right direction; however, this is a great step forward. Please see below for specific information regarding the 2019 Federal Budget and housing affordability.
- Make homeownership more affordable for first-time buyers by implementing a First-Time Home Buyer Incentive, a shared equity mortgage program that would reduce the mortgage payments required to own a home; and by providing greater access to their Registered Retirement Savings Plan savings to buy a home.
- Increasing housing supply through partnerships and targeted investments.
- Strengthening Rules and Compliance in Canada’s Housing Market.
- For more information on the above three items, please visit https://www.budget.gc.ca/2019/docs/themes/housing-logement-en.html#improving-affordability-today-support-for-first-time-home-buyers.