The Surrey Board of Trade has released its Federal Housing Initiatives Survey Results report providing comments in response to the consultation on confronting the financialization of housing. Following the Federal Government’s recent announcements of new actions designed to lower the cost of housing, SBOT sought to ensure that the business community’s perspective is considered in shaping policies that directly affect both residential and commercial sectors.
“The housing crisis is a pressing issue that impacts not only individuals and families but also the ability of businesses to attract and retain talent. It is crucial that we balance the need for affordable housing with the importance of maintaining a strong, sustainable economy,” said Jasroop Gosal, Interim Spokesperson and Policy & Research Manager at SBOT. “By gathering feedback from our members, we can ensure that policies reflect the needs of the local business community and help guide effective solutions moving forward.”
According to the survey results, 21.43% of respondents believe that limiting corporate purchases of single-family homes would be “very effective,” while 28.57% consider the measure to be “somewhat effective.” However, nearly one-quarter of respondents (21.43%) rated the measure as “somewhat ineffective,” and 14.29% expressed the view that it would be “very ineffective.” The remaining 14.29% of participants were neutral on the issue.
These findings suggest that while there is some support for the proposed policy, a significant portion of the public remains uncertain about its potential to solve the housing crisis. The Surrey Board of Trade emphasizes that any proposed changes to housing policy should be carefully considered to ensure they address the root causes of affordability challenges, such as housing supply shortages, rather than simply limiting market participation by certain investors.
Read the full report here: Federal Housing Initiatives Survey Results – SBOT
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Jasroop Gosal
Interim Spokesperson, Surrey Board of Trade
604-634-0345 | jasroop@businessinsurrey.com
