CHBA Engages with Prime Minister, Cabinet, Expert Panel 

A testament to the respect for its insights that CHBA has garnered with the federal government, CHBA CEO Kevin Lee was invited to participate in the Liberal Cabinet retreat in Halifax on August 26th to discuss barriers preventing the rapid construction of new housing across the country. Lee put forth CHBA recommendations directly to the Prime Minister, who hosted the session, and his Cabinet. He spoke to the overly restrictive mortgage rules, excessive red tape, development taxes, high interest rates, and variety of other issues that are locking well-qualified buyers out of the market and limiting housing supply. CHBA’s Sector Transition Strategy (STS) was again highlighted with the government to reiterate ways to support and de-risk an industry transition to more factory-built methods with the goal of boosting productivity and spurring home construction. As the work of the current government continues over the next year, CHBA is looking for new announcements on policy change as early as the fall economic statements; at the same time, as party platforms begin to take shape for the next federal election, these opportunities to engage are as important as ever.

Lee was also named to an Expert Panel on the federal government’s upcoming consultations on an industrial strategy for home building. CHBA’s Sector Transition Strategy (STS) will again highlighted with the government to reiterate ways to support and de-risk an industry transition to more factory-built methods with the goal of boosting productivity and spurring home construction. The panel will support the consultation and provide advice to the Minister of Innovation, Science and Industry, and the Minister of Housing, Infrastructure and Communities on how to boost the capacity of the industry. The consultations will engage a broad range of stakeholders across the construction sector, academics, and community leaders through a series of thematic roundtables, as well as solicit feedback from the public through online submissions. The inclusion of CHBA in the panel is a result of the ongoing engagement with the federal government and the release of the highly regarded STS. The Expert Panel will produce a report based upon the feedback it receives.

CHBA Submits Federal Budget Recommendations   
As your voice to the federal government, CHBA has provided recommendations to the Standing Committee on Finance’s consultation on the development of the 2025 federal budget. Since many of CHBA’s policy recommendations from last year’s submission were realized in Budget 2024, new asks of the government have been added, along with reiterating existing ones. The Finance Committee will include select recommendations in a report to be tabled in the House of Commons later this year. The process provides the Department of Finance and the Finance Minister with what the Committee recommends in terms of policies, programs and priorities for Budget 2025 – a very important opportunity to ensure the needs of members are included in federal planning.  The Department of Finance also conducts separate pre-budget consultations in which CHBA engages, usually commencing at the end of the calendar year. In addition to providing pre-budget recommendations in these formal consultation processes, CHBA continually engages with political and departmental officials throughout the year to address issues important to the sector and how they should feed into budget decisions, as Kevin Lee did at the Cabinet Retreat (above). 

CHBA Provides Feedback on CRA’s Reporting Fees for Service   
Seeking to avoid further red tape for members, CHBA recently participated in a Canada Revenue Agency consultation on “improving” the filing of information returns for business-to-business fees for service (RFS) invoices over $500. To combat the excessive red tape that members face, CHBA used this opportunity to outline that home construction is already excessively burdened by regulation that ultimately leads to higher prices for the home buyer. There is already a T5018 filing required by construction companies on contract payments, and there is a long-standing moratorium on assessing penalties for failing to report these RFS payments. CHBA’s position is that it is critical for housing affordability that this moratorium stay in place, despite pressure from other interest groups to remove it. Furthermore, CHBA is arguing that the threshold for filing be increased significantly from $500 to $30,000.  The letter that outlines CHBA’s suggested measures to improve reporting compliance can be read here. 

2024 Q2 HMI Indicates New Home Sales Broadly Negative, with Important Regional Differences

Results from CHBA’s latest Housing Market Index (HMI) showed even worse builder sentiment than Q1 across key regions of the country. The broadly negative view about the health of new home sales indicates that housing starts activity, at least for homeownership, will not pick up substantially any time soon. Record lows for the HMI in Ontario and British Columbia are particularly worrisome, given that these provinces are facing the greatest affordability challenges and have the largest need for much more housing supply. What’s more, the full effects of the slowdown have yet to be felt in housing starts numbers because of long building timelines, especially for multi-family buildings. CHBA uses the HMI in its government advocacy on behalf of members. To volunteer as part of the builder panel in your area, please email CHBA’s Economist Evan Andrade. Read more about the Q2 HMI findings here.  

Upcoming Webinar: Getting Buyers into the Market

SEPTEMBER 26 @ 1:30PM ET
While interest rates are starting to come down to a degree, many buyers – whether they’re buying their first home or a net zero home – are of course struggling to get into the market, and existing homeowners who need to renovate are finding it tough to get financing. In this webinar, learn how CHBA is speaking up on your behalf with the federal government, what positive actions have come out of that advocacy, and some great mortgage solutions that RBC has available to your clients. Topics will include first-time buyers, Net Zero homes, and renovations. Member can register here.

Adaptiv Home Renovation VIRTUAL Course 

SEPTEMBER 17-18, 2024
A few seats remain for the next virtual Adaptiv Home Renovation Course. The course, which has sold out the previous three times it was offered, provides knowledge and tools for professional renovators to better support Canadians who wish to live at home for as long as they can. The course includes an overview of the Adaptiv Home market, including specific design approaches and business opportunities. Renovators will learn about ramps and slopes, zero-step thresholds, curbless showers, accessibility equipment and home automation solutions. Grab one of the few remaining seats and register today!