In the federal budget, $10 billion is set to conquer affordable housing over the next 5 years. 

Here are some of the major things that the funding will cover:

- Foreign buyers are banned from buying residential properties for the next 2 years including condos, apartments, and single-residential units. 

- $4 billion is scheduled to launch a Housing Accelerator Fund which will create 100,000 new affordable homes in the 5 years. 

- $1.5 billion is set to extend housing initiatives to create 6000 affordable housing units. 

- $750 million is going towards the creation of tax-free savings accounts for new home buyers. This savings account will allow first-time homebuyers to save up to $40,000 for their first house. 

The Saskatchewan Realtors Association CEO Chris Guerette is happy to see that affordable housing was the main pillar in this budget but she says that at the end of the day, inventory is still the main issue. 

"We have to remember that in Saskatchewan, we're still considered relatively affordable. If you look at our average house price compared to the other provinces, we're definitely very competitive. So when we're talking about watching inventory levels we want to make sure that the inventory pressures are not going to put a pressure on prices. We would hate to see, you know, an erosion of affordability in the next 12 months because we can't keep up with demand. That is when we're going to see price increases and price acceleration," says Guerette. 

Saskatchewan is already in the race to keep up with demand.

She shared statistics that showed a ratio of house buyers to sellers. In Saskatoon, for every 2 buyers, there's only 1 seller and in Regina, there are 5 buyers for every 4 sellers. 

To look at a brighter side though, geurette is happy to see more support for first-time homebuyers. 

"In Saskatchewan, it's important to remember that we have the highest percentage of millennials in our province when we compare to the percentage across the country. So, we really are a population of individuals who are first-time homebuyers, who just started to get into the home market. So, anything to support that age group is wonderful," says Guerette. 

Guerette also says that Moose Jaw is following the same trends as the province in our local housing market. 

Moose Jaw is seeing a decrease in inventory. She said compared to last year, Moose Jaw's housing inventory is down 24%.  

Guerette says, "(Moose Jaw) should probably also be concerned making sure there's a healthy inventory and choice in its community."

Listen to the full interview between Saskatchewan Realtors Association CEO Chris Guerette and Discover Moose Jaw's Katherine Ludwig below.