Chamber president welcomes housing news from fall economic statement

Relief from a red hot housing market — the carrot dangled by the federal government’s fall economic statement Tuesday.

And experts say, that’s enough to keep the cart rolling.

“For a region like Windsor-Essex, we’re bringing so many people in from outside,” said Rakesh Naidu

He said from a businesses perspective, status quo in the housing market isn’t good enough for the growth our region’s experiencing — and major projects like Windsor’s electric vehicle battery plant and new acute care hospital need to be factored into future plans.

 “All of this will create demand for workers, demand for employees. And as we bring people from outside Canada or other parts of Canada we need to find ways to house them,” said Naidu.

The federal government's new housing promises are welcomed by economists 3 if they come to fruition.

“There is a lot of positives to be said around the government’s housing policy but the problem is the magnitude of the issue they are trying to deal with and the scope they have to actually make a difference,” Naidu added.

Those promises come with price tags, and Ottawa announced those plans include spending $20-billion more than expected over the next six years.

“We know that the deficit is likely going to increase with some new spending, but they’re not going crazy with the spending, which is a good thing,” said Naidu.