TRREB Calls for Choice and Privacy following Election Pledge on Offer Process in Housing Transactions
In response to the federal election announcement to ban “blind bidding” in the home buying and selling process, TRREB President Kevin Crigger has this to say:
"The Toronto Regional Real Estate Board (TRREB) is encouraged by the attention being given by federal political parties, to housing affordability challenges which TRREB has been sounding the alarm about for a number of years. As TRREB has consistently noted that issues around housing affordability are, and will continue to be, one of the most important issues facing our region, our province, and our country.
It is critical, however, that government actions be carefully considered to ensure that they aid in solving these challenges directly and do not create a host of additional challenges. Consumer choice and consumer privacy should be paramount in shaping government policy. Federal public policy should recognize the right that consumers have to privacy, and should allow them to consent to the disclosure of personal information, instead of penalizing home buyers and sellers. Punishing home buyers and sellers for wanting to keep their financial decisions private for the largest transaction of their lives is a substantial overreach of the government.
Nevertheless, we are encouraged that the federal political parties are making commitments to address this issue from the supply side which is the only way to chart a path forward to ensure greater affordability. Policies targeted at increasing the supply of homes for sale, as well as incentives for home buyers, are key objectives TRREB has advocated for many years.
It is also important for federal parties to understand that collaboration with other levels of government, specifically at the municipal level, is essential to bringing on new supply. The federal government of the day cannot simply promise to build one million plus homes over the course of a four-year mandate without buy-in from provincial and municipal governments who actually oversee the development approvals process in Canada.
These are the solutions that governments should be focused on."