Wednesday, November 9, 2022

At a glance (2 minute read)

  • REBGV recently joined CREA to talk to MPs in person to advocate affordability solutions to the Federal government.
  • Recommendations include creating a permanent national housing roundtable and leveraing existing bilateral agreements to include new housing.

Homebuyers have been increasingly unable to buy an affordable home due to a lack of supply and high demand.

To offer solutions and recommendations, representatives from your Board were in Ottawa to talk to MPs as part of the Canadian Real Estate Association's (CREA) 37th annual Political Action Committee (PAC) Days conference, between October 16-18.

CREA represents 155,000 REALTORS® from 75 boards and associations across Canada and advocates for federal policy initiatives that strengthen the ability of Canadians to own, buy, and sell real property. 

Recommendations

Real Estate Board of Greater Vancouver representatives met with local MPs to ask the federal government to listen to solutions and to adopt two recommendations: 

1. National housing roundtable

Recommendation: create a permanent national housing roundtable.

To increase supply across the entire housing spectrum, the federal government must take a leadership role and convene a permanent national housing roundtable, bringing together federal, provincial/territorial, and municipal authorities along with builders, real estate professionals, and civil society organizations.

CREA and Realtors will bring their expertise by delivering well-researched reports, generating data-informed perspectives, informing solutions to market challenges and identifying how much supply is needed, where and what type to prioritize.

2. Bilateral infrastructure agreements

Recommendation: leverage existing bilateral agreements to include new housing.

The federal Investing in Canada Infrastructure Program delivers $33 billion to provinces and territories through bilateral agreements for public transit, green infrastructure, community culture and recreation, and rural/northern communities.

CREA recommends the federal government add clauses to the agreements to create new housing that’s indexed to population growth. This approach would empower municipalities to make decisions to better serve the unique needs of their communities.

Read more about CREA’s recommendations.