Supply issue: Local real estate industry reacts to federal budget
Housing is a hot topic from the federal government’s 2022 budget announced Thursday. The Central Alberta REALTORS Association (CARA) says while the strategies are positive, they may not be solving the root cause of the current problem.
“Right now, until we have a few more sellers that are jumping into the current market, there’s nothing in this budget that really helps us out in the short term,” said Larry Westergard, Executive Officer of CARA.
“It is right now a supply side issue. There are just simply not enough properties on the market if you’re a home buyer right now looking to purchase.”
The first chapter of the budget is titled “Making Housing More Affordable” with commitments relating to affordable housing construction, greener homes, tax credits, aid for first time home buyers, curbing foreign investment, and more.