Board welcomed new federal tools but warned they still fall short for buyers
The federal government’s Spring Economic Update puts housing back at the centre of fiscal policy, with new moves on insured financing, rental construction and tax-sheltered savings, and a clear signal that Ottawa intends to lean harder on supply rather than short‑term demand relief.
For the Toronto Regional Real Estate Board (TRREB), the package marks progress on long‑running asks from the industry and organized real estate, even as it leaves key homeownership concerns unresolved for buyers across the Greater Toronto Area and Simcoe County.
“TRREB welcomes the federal government’s Spring Economic Update which continues the government’s focus on housing supply and affordability,” the board said, adding that the measures “signal[led] meaningful progress on long-standing priorities shared by homebuyers across the Greater Toronto Area and Simcoe County.”
Several initiatives in the update aligned with positions advanced by TRREB and the Canadian Real Estate Association (CREA).
The board pointed to “increased flexibility in mortgage insurance to support missing-middle housing, steps toward modernizing building regulations and factory-built housing, improved housing data collection, and a stronger skilled trades strategy.”
These steps, it said, could help “boost supply and improve market efficiency.”
Measures target missing-middle and rental pipeline
Ottawa proposes expanding mortgage insurance options for multi‑unit and missing‑middle projects while investing in modern methods of construction and building innovation.
The Spring Economic Update also moves to accelerate low‑cost loans under the Apartment Construction Loan Program to speed up new rental construction, building on a broader federal housing envelope now estimated at more than $140 billion over five years.
On the demand side, the government extended the grace period before homeowners must begin repaying withdrawals under the Home Buyers’ Plan to five years for first withdrawals made between January 1, 2026, and December 31, 2028, aligning with the temporary relief already in place for 2022–2025.
Attainable ownership still the pressure point
TRREB stressed that those measures, while welcome, could not on their own restore entry‑level ownership.
“That said, the federal government must take further action, particularly to support attainable homeownership,” the board said.
It added that it looks forward to upcoming consultations “on financing tools and policies that will help more Canadians enter the housing market.”
Mortgage leaders earlier warned that federal housing packages risk falling short without faster approvals, lower delivery costs and a clearer path for mid‑sized rental and missing‑middle projects.
Looking ahead, TRREB and CREA urged Ottawa to “establish a more integrated housing framework, including clear roles for Canada Mortgage and Housing Corporation and Build Canada Homes, and to work with all levels of government on a renewed federal national housing strategy.”
Restoring “a realistic path to homeownership,” they said, needs to remain a central objective as the government refines its toolkit.
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