Well, we're finally here -- the long awaited Federal Election in Canada, set for April 28th. If you haven't gone out to vote yet, I highly encourage it! Make your voice heard, and the best way to do that is by voting. Now of course, I'm going staying away from talking politics here, but thought it would be worth sharing the leading parties' plans for HOUSING here in Canada, since it's been quite the hot issue these days.
As with all things market-related, we really need to consider the SUPPLY and DEMAND side of the equation to get a full picture of how housing could unfold under each party's leadership.
On the DEMAND side, there's certainly a lot to consider (immigration, economy, interest rates, demographics, etc.). Too much to cover here today, but we can touch on immigration. Much of the housing demand has been seen as a direct result of influx of international migrants, with trickle-down effect on local demographic demand, rental housing, and much more. For now, all parties acknowledge this is an issue and have dialed BACK immigration - with both the Conservative and Liberal parties both supporting immigration CAPS. This is a shift from policy for the Liberal party which emphasized economic growth through immigration.
On the SUPPLY side, here's a quick comparison of the platform policies for each party, so you're aware:
How realistic these targets / goals / policies are, are to be determined..
Of course there are certainly other considerations when picking who to lead our country next - but wanted to share from a real estate perspective. Make sure you get out there to make your voice heard!