Federal housing minister Ahmed Hussen told a House of Commons committee that the country needs more houses urgently. “We need more housing supply in Canada,” he told the Public Accounts Committee on May 18. “We have the fastest-growing population in the G7. We have a very low housing supply of all types.” According to Blacklock’s Reporter,…
Canada in Short Supply of Housing; Industry Calls for Cuts to Taxes, Fees
Fed Housing Strategy Yields Too Few Homes, According to Inquiry Data
The federal government’s housing strategy has only managed to finance the construction of some 106,000 homes since 2019, according to new government data. An Inquiry of Minister presented in the House of Commons by Canada Mortgage and Housing Corporation (CMHC) provided data on the numbImmer of residential units that have been built through the strategy…
Canada’s Shortage of Rental Housing Could Quadruple by 2026, Says Bank Report
Canada is facing a shortage of rental housing that will leave the market short by 120,000 homes by 2026, according to predictions by Royal Bank of Canada (RBC). The bank said it estimated that Canada’s rental housing market is already facing a shortage of about 25,000 to 30,000 units, and said Canada would need to…
Canada’s Shortage of Rental Housing Could Quadruple by 2026, Says RBC
Canada is facing a shortage of rental housing that will leave the market short by 120,000 homes by 2026, according to predictions by Royal Bank of Canada (RBC). The bank said it estimated that Canada’s rental housing market is already facing a shortage of about 25,000 to 30,000 units, and said Canada would need to…
Increase in Newcomers to Canada Will Push Home Prices Higher and Erode Affordability: Report
February 19, 2023
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Canada will need an estimated 100,000 more houses constructed per year to accommodate the federal government’s most recent immigration targets, according to a new report analyzing the impact of increased immigration on provincial housing markets. Housing starts would have to increase immediately by almost 50 percent and remain at that level through 2024 to offset…
A Look at Surging U.S. Rents
August 11, 2022
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Part I of a series Moving to a new city and searching for a place to live can be challenging. Home prices are high, and interest rates are climbing. As a result, many people are turning to rental properties to wait it out. Rental properties are a casualty of high interest rates and skyrocketing home…
Housing Supply Sees Slight Improvement in April as Higher Prices and Mortgage Rates Slow Sales
The supply of homes for sale in the United States began to show signs of improvement in April 2022 according to new data from Realtor.com, which stated that the number of salable homes would increase in the next few weeks due to fewer buyers. April housing inventory was 12 percent lower than in the same…
The Only Way to Make Housing More Affordable in Canada Is to Increase Supply
Commentary For many, the purchase of a home means they’ve made it. Home ownership is a symbol of full and successful participation within the middle class. It indicates one has worked hard, saved funds, and been responsible. Most of us have been programmed to strive for home ownership and to make the purchase of a…
Garcetti Budgets for Homelessness, Climate Change in Final State of the City Address
April 14, 2022
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LOS ANGELES—In his final State of the City address at the Sixth Street Bridge, Los Angeles Mayor Eric Garcetti highlighted some of the programs and investments for the upcoming fiscal year—with a special focus on public safety, climate change, and housing shortage, plus a $1 billion investment into addressing homelessness. “My goal is to hand…
Strong CA Economy in 2022 Before Potential Recession in 2023: Chapman Economist
December 14, 2021
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Californians may see a strong economy in 2022, but the possibility of a recession in 2023 lingers, President Emeritus and Economist James Doti said during Chapman University’s 44th annual economic forecast on Dec. 14. As pandemic restrictions for businesses dwindle, California anticipates job growth of 4.2 percent in 2022 in comparison to 3.5 percent nationwide,…
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