2025 Federal Budget – Housing Measures

Canadian Home Builders' Association

AT-A-GLANCE SUMMARY 

The federal government has tabled the 2025 budget, and CHBA issued a press release in response. This is the first budget in a year and a half and the first one since Mark Carney became Prime Minister. Unlike the 2024 budget, which was commonly referred to as ‘The Housing Budget’ and which had some 53 pages dedicated to housing affordability measures, today’s document fell short of policies that will help restore affordability and advance homeownership. Instead, it focused on government-supported housing through the government’s Build Canada Homes initiative.

CHBA CEO Kevin Lee was invited to attend the stakeholder lock-up where he got an advance, embargoed copy of the budget and the budget speech delivered by the Finance Minister. Additionally, Lee was able to dialogue with political and public service officials to give immediate feedback on the documents. This followed on Lee’s appearance before the Senate Finance Committee on Tuesday morning, where he emphasized CHBA’s concerns over housing affordability, the need to take action, and the limited expectations for the budget – which unfortunately came to fruition.

Last year’s budget contained many advancements for market-rate housing, which fortunately are still in place, but the new government is underestimating the downturn in the industry for housing for ownership, and the devastating impact the slowdown is having in provinces like Ontario and B.C.

Read more at CHBA.ca