The federal government is throwing a lot of dollars at housing, but a major portion of the funds won’t kick until two years from now. That is the takeaway of Lakehead University Economics Professor Livio Di Matteo following this week's fall economic statement, which includes billions of dollars in new spending and targeted policy measures aimed at increasing the housing supply.
Finance minister Chrystia Freeland noted that the more sizable financial commitments are not set to roll out the door until 2025. “In the immediate term, I don't really see having that much of an impact. You can lead a horse to water but you can't make them drink. The companies, builders, developers would have to take up on ,” Di Matteo said. “ depends on what interest rates are like, what the state of the economy is and whether people have the purchasing power to pay for the housing.” Ottawa will offer up to $15 billion in new loan funding in the rebranded Apartment Construction Loan Program beginning in 2025-202