Business View Magazine - Nov 2023

VOLUME 9, ISSUE 11 THE CANADIAN HOME BUILDERS’ ASSOCIATION OF NEWFOUNDLAND LABRADOR Founded in 1956, the CHBA-NL’s work is overseen by 10 volunteer committees in areas as diverse as technical and economic research, education and training, renovation, land development, the environment, and marketing. It offers its 150 member businesses a wide range of benefits including local, provincial, and federal government advocacy; training sessions and educational programs; membership in the national CHBA; value-added programs such as member discounts and access to group advertising; monthly luncheon meetings; local and national conferences and seminars; partnerships with local individuals and organizations that help support the sector; and most importantly, the ability to contribute real solutions and make positive change in the industry. Canada needs more housing Alexis Foster, CHBA-NL’s Executive Officer, says that there are a lot of things that need to happen in Canada before the national CHBA and its 50 affiliate associations across the commonwealth can fulfill one of its main goals: making home ownership more available and affordable. “Currently, in Canada, we are 3.5 million homes away from what we need,” she states. “So, we need to build another 3.5 million homes in the next ten years. That is on top of the 2.3 million that we normally build in that same period.” Key among the items advocated by the CHBA- NL in pursuit of that laudable objective include: lowering interest rates, which have slowed the housing market by making mortgages less affordable; extending amortization periods to spread out and lower monthly mortgage payments; and providing renovation tax credits for first-time home buyers. “We have so many young people who are trying to become homeowners and a lot of times, their options are a little more limited than what they can afford,” Foster explains. “So, an older home might be perfect for them, but they might need to do a bit of renovation to make it their own. This would offer them a tax credit to buy an older home and make the renovations they need on it.” Other advocacy items on the federal level include: recommending changes for upgraded national building codes and standards and reforming the tax rules regarding purpose- built rentals, which are self-contained buildings with five or more dwelling units that are intended to be used for rental housing. “We’re bringing over immigrants to Canada, right now, and we need places to house them,” Foster relates. “So we’re asking that that be done. “Also, we were at a meeting with the federal administrator of housing recently and we told him that when they’re looking to bring in new immigrants from across the world, they focus on those who are skilled in construction. We need skilled labor, right now, in our sector. That’s one of the biggest challenges that we keep hearing from our members. They have people who want