CREA Applauds Federal Government’s “All Hands On Deck” Approach to Tackling Canada’s Housing Crisis

For years, REALTORS® across Canada have been advocating for collaboration between governments, industry, civil society and the Canadian public to tackle the country’s housing crisis. The Canadian Real Estate Association (CREA) applauds the comprehensive approach outlined in today’s release of “Canada’s Housing Plan” by the federal government. This is the first articulation of a “systems” approach to housing and home building – through skills, financing, home building methods, reducing approval barriers, and infrastructure tied to housing.

“Canada’s Housing Plan” is an extremely ambitious plan that acknowledges and aims to address housing affordability and supply across the continuum, something REALTORS® have been encouraging for years.

“Canada’s housing challenges have been building over many years and no one group can tackle it on their own,” says Janice Myers, CREA CEO. “REALTORS® across Canada have been advocating for a collaborative, multi-faceted approach for years. We’re ready to play our part.”

REALTORS® have long recognized that for many Canadians, renting is a necessary step toward homeownership, not the final destination. The measures presented in the plan acknowledge and support that journey. The plan acknowledges a need to address housing equity – both intergenerational and with equity deserving groups.

“We know many younger Canadians feel a lack of hope about their housing outcomes,” says Myers. “The dream of homeownership is alive, it’s just out of reach.”

For nearly 40 years, CREA has engaged elected officials and government to discuss solutions and make recommendations on behalf of REALTORS®. We’re pleased to see “Canada’s Housing Plan” reflects many of the recommendations we’ve put forth over the years to help address the challenges and needs facing Canadian property buyers, sellers, and renters, including the:

• “Team Canada” approach to working across all levels of government and with industry partners;
• focus on increasing housing supply and addressing affordability across the continuum;
• tying of federal infrastructure funding to housing outcomes;
• emphasis on housing innovations;
• plan to attract and support the skilled workforce to build homes; and
• measures to help first-time home buyers enter the market.

We look forward to reviewing the legislative details that will be articulated in the 2024 Federal Budget on Tuesday, April 16, 2024.

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About the Canadian Real Estate Association

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations. CREA works on behalf of more than 160,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers, and sellers.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111
E-mail: pleduc@crea.ca­