The Trudeau government will take steps in Tuesday's federal budget to make home-buying more affordable with changes affecting supply, demand and regulation, The Canadian Press has learned.
Finance Minister Bill Morneau has promised the budget will focus on ways to help improve housing affordability for Canadians, and particularly for millennials, who are now in their mid-20s to late-30s.
The changes, along with expected measures on adult skills training, pharmacare and supporting seniors, will be included in the Liberals' fourth and final budget before the October federal election.
The budget's housing measures could grab a lot of attention. Polls have suggested affordable home ownership is a key concern for millennials and could be a vote winner with the increasingly critical demographic.
Morneau has heard housing-policy recommendations from numerous sources, including academic, real estate and mortgage experts, on how best to help more people buy homes.
The budget will respond to issues in the housing-related areas of supply, demand and regulation, says a government source, who was not authorized to speak publicly about the plan ahead of its release. They declined to provide specifics on the measures.