There are about 16.3 million homes in the country. Canada Mortgage and Housing Corp. last year calculated that, for prices to moderate, 5.8 million more are needed over the next decade – that’s 3.5 million on top of the 2.3 million that would otherwise be built. Look at those numbers and wonder why the Prime Minister held a press conference for 214 homes. Look at those numbers and consider the national housing strategy’s modest impact, 107,519 homes, so far.
This is the best summary I could come up with:
The situation has brewed for decades, and the blame can be pinned on city councils whose restrictive zoning laws keep the supply of housing well below demand.
The fact that Ottawa thought such a minor announcement was worthy of a press conference with the Prime Minister shows a poor grasp of reality.
First of all, as this space has argued, Ottawa’s aggressive immigration policy ignores Canada’s long-standing deficit of homes, as does its open door for international students paired with no plan for where they’ll live.
The failure of cities across the country to allow enough housing to be built has recently – finally – led to interventions by provincial governments in Ontario and British Columbia, where the problem is the worst.
One option is the numerous tax levers Ottawa can pull, similar to the 1970s, to help build housing such as affordable four-storey rental apartments.
While housing isn’t technically among Ottawa’s primary responsibilities, the federal government needs to redouble its efforts to make change happen.
I’m a bot and I’m open source!