Federal Government Housing Announcements Ahead of April 16 Budget

Milton, ON, April 4, 2024 – OMDREB would like to highlight the recent announcements by the federal government to address housing affordability and supply challenges. Details will be released in smaller announcements in the coming weeks, with the final details in the Federal Budget to be released on April 16.

The government has announced its intention to implement a number of REALTORRecommendations by Real Estate Boards across the country (including OMDREB), such as measures related to the Housing Accelerator Fund and Infrastructure funding.

April 2nd’s announcement highlighted the following key commitments:

Topping-up the Housing Accelerator Fund with an additional $400 million;

launching a new $6 billion Canada Housing Infrastructure Fund; and

protecting renters’ rights and creating pathways for them to become homeowners.

Last week, the government also announced tenant protection measures and the Canadian Infrastructure Bank unveiled the Infrastructure for Housing Initiative, aimed at improving access to low-cost financing for housing-enabling infrastructure.

While we are encouraged by these steps taken by the federal government, the real estate market remains dynamic, and challenges persist. OMDREB continues to advocate on behalf of its members for collaboration between the government, industry stakeholders, and community leaders. By working together, we can ensure every person wishing to live in Oakville, Milton, and Halton Hills has access to a home that meets their needs.