Because it likely will take several years for the overhang of vacant homes to be sold, such a strategy would help some communities deal with the shortterm crisis and then ultimately allow for the disposition of properties in a manner suitable to local market conditions in the longer term.
The housing sector is clearly on the rebound, having digested the various housing policy changes put into place during 2016–18, and is still being fuelled by relatively high rates of immigration. Consumption spending has held up relatively well on average, supported by the solid labour market and low interest rates, even as the savings rate has been edging higher.