Cory Morgan: If Canada Is to Catch Up on the Rapidly Growing Housing Shortage, Governments Need to Get Out of the Way
Commentary
Canada’s housing affordability challenges are about to get a whole lot worse soon. While the Canadian government has set immigration targets at 500,000 people per year, anticipated new home construction is expected to fall short of national needs by 100,000. Governments at all levels need to address this issue before it becomes a full-blown crisis. Unfortunately, governments aren’t typically inclined to turn on a dime with policies, especially when ideology is at play.
There is no avoiding the reality of the issue. Canada needs to increase its housing supply. It doesn’t matter how many rental subsidy programs are created, if the nation has more people than homes, people will find themselves unhoused. That’s not a matter of opinion. That’s basic math….