Trending Topic: Q1 2024 Policy Roundup

In this month's Trending Topic, our hosts, Suzana Goncalves and Brittany Reimer dive into the Q1 2024 Policy Round Up. With the looming federal election, housing affordability emerges as a top concern, prompting various levels of government to introduce legislation to address this issue. 

• Federal: The federal government emphasizes rental affordability through initiatives like the Apartment Construction Loan Program and the Canada Rental Protection Fund.

• Provincial: On the provincial front, attention shifts to policies impacting homebuyers directly. The flipping tax aims to deter rapid property turnover, although its market impact may be limited. 

• Local: Local governments also make waves with increases in development cost charges, raising concerns about their potential impact on development viability amidst already thin margins. 

CHAPTERS 

1. Intro (0:00) 
2. Election Year (0:52) 
3. House Affordability (1:03) 
4. Rental Affordability (1:30) 
5. Apartment Construction Loan Program (1:53) 
6. Flipping Tax (3:35) 
7. First Time Homeowners Exemption (5:18) 
8. Increases to DCCs (5:45) 
9. Closing (6:28) 

ADDITIONAL LINKS FOR THIS EPISODE: 

May 2024 Greater Vancouver Presale Pulse Episode: 

https://mlacanada.com/newsfeed/greater-vancouver-may-2024-presale-pulse

May 2024 Fraser Valley Presale Pulse Episode: 

https://mlacanada.com/newsfeed/fraser-valley-may-2024-presale-pulse

May 2024 Presale Pulse Report: https://mlacanada.com/newsfeed/may-2024-presale-report-fraser-valley-leads-in-increased-presale-activity

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Chapters

• 0:03 Introduction
• 0:52 Election year
• 1:03 Housing affordability
• 1:30 Rental affordability
• 1:53 Apartment Construction Loan Program
• 3:30 Three policy changes
• 3:35 Flipping tax
• 5:18 First time homeowners exemption
• 5:45 Increases to development cost charges
• 6:28 Outro