CHBA Welcomes Positive Economic Update

OTTAWA — November 12, 2013 The Canadian Home Builders’ Association (CHBA) welcomed Finance Minister Jim Flaherty’s Fall Economic Update.
 “Our industry is pleased that the government remains on track to eliminate the federal deficit by 2015-16,” stated Deep Shergill, CHBA’s President. “This is another solid sign that Canada’s economy is headed in the right direction – good news for homeowners and prospective home buyers alike,” he added.
CHBA CEO Kevin Lee noted that the home building industry supports the government’s focus on jobs and the economy, and it recognizes the importance of moving back to balanced budgets, while also addressing key issues facing Canadians. “That is why CHBA’s budget advice to the federal government continues to address no-cost measures that will help young families get their first home, assist young people in gaining the skills needed for a solid job in our industry, and address market inequities to enable the private sector to supply new rental housing,” he added. 
“We are also pleased with the Building Canada fund and ask only that these resources be focused on core infrastructure.  If not, these core infrastructure costs end up as municipal development taxes on new home buyers, seriously eroding affordability and preventing young families from buying a home of their own.” 
A positive economic update is a positive sign for the construction industry and the Canadians it serves.  “CHBA is very proud of the role our industry continues to play in Canada’s improving economic picture.  Residential construction is a $120 billion-a-year business, employing 845,000 Canadians—we make a significant contribution to the economy and to the wellbeing of Canadians from coast to coast to coast,” Shergill noted.