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Initial interest rate lowering not enough to offset restrictive mortgage rules and other barriers to increase new home sales 

The Canadian Home Builders’ Association (CHBA) released its 2024 Q2 Housing Market Index (HMI) today, which showed a very negative builder sentiment for a seventh consecutive quarter, prior to the release of the federal budget. The HMI is a leading indicator about the health of the residential construction industry in Canada, and its ongoing lows were a continuing signal for poor housing starts ahead, and the need for change in government policy.

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CHBA Releases Strategy for Building 5.8 Million Homes

The Canadian Home Builders’ Association has released a strategy detailing changes and supports needed to enable the industry to build 5.8 million homes in the next decade to close Canada’s housing supply gap and improve housing affordability.

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