On Tuesday, the federal government announced its 2024 budget, committing to extensive new spending funded by fresh revenue sources. This year’s federal budget is centred on three key objectives: increasing the availability of affordable housing, reducing living costs, and fostering economic growth that benefits everyone.
James and Denny share their thoughts on the recently released federal budget and plans to make housing more affordable. They also discuss BOC numbers and their effects on the current Vancouver real estate market.
This episode will focus on the recently released federal budget and it’s effects on real estate, Bank of Canada announcements, 6th rate hold in a row, CPI at 2.9%, housing initiatives, a new tax on residential vacant land, help for student rentals, increase in capital gains tax, Home Buyers Plan increase to $60,000, and longer amortization on mortgages for first-time buyers.
Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on Spotify, iTunes & YouTube.