A real estate broker in Toronto thinks that the Liberal’s housing plan won’t help housing affordability and will even push costs up in the long run.
Broker, John Pasalis says that the Canadian population is growing faster than the housing supply which is will continue to strain the market. While he’s not a fan of the new Liberal plan, Pasalis wasn’t really thrilled with any party’s housing strategies according to BNN Bloomberg.
While he thinks that the Liberal’s plan to boost the insured mortgage cutoff to $1.25 million. He thinks that this will pause a lot of buying in the short-term as Canadians wait for the new changes to come into effect.
Overall though, he doesn’t think that any federal policy will stir up any meaningful change.
Source: BNN Bloomberg