Budget office sees modest boost in housing supply from Build Canada Homes [Advisor.ca (Canada)]
Cabot Corporation (CBT)
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Source: Advisor.ca
The Liberals launched Build Canada Homes in September and tasked the new federal agency with boosting the total stock of affordable housing with an initial $13 billion in funding for loans, financing and land acquisition. The budget office said in a report Tuesday that Build Canada Homes is projected to add 26,000 units to the total housing supply across the country over the next five years, half of which would be affordable homes for low-income Canadians. That represents an increase of 2.1% over the PBO's baseline projection for new home construction over that period. It also accounts for only 3.7% of the roughly 690,000 units the PBO estimates are needed to restore housing affordability over the next decade. While the Liberals have promised to double the pace of housing construction, the budget office noted in its report the government hasn't released a complete plan to achieve that goal. The fiscal watchdog also warned overall federal housing spending is set to decline b
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