With the 2021 Federal Election set for Monday, September 20th, all three major federal parties – the Liberal Party of Canada, the Conservation Party of Canada and the New Democratic Party are looking at different methods to address Canada’s housing affordability crisis.
As a Real Estate Broker, I experience first-hand the impact rising home prices and the shortage of available homes has on everyone in our community. Inventory and listings are at historic lows and demand showing no signs of slowing down. Action from all levels of government is clearly needed. There is simply not enough housing supply to meet demand, which directly leads to situations with multiple offers and inevitably higher home prices. The current landscape of bidding wars in the housing market has created a national affordability crisis.
I invite you to read the link below to an article recently released from the Ontario Real Estate Association. It is a good read!