After eight years of Justin Trudeau, housing costs have doubled. Under Trudeau, Canada is building fewer homes than we did in the 1970s when we had half the population, making housing more expensive for everyone.
Today, the Canadian Mortgage and Housing Corporation (CMHC) confirmed that this problem is only getting worse. Despite constant Liberal Government photo-ops, Canada will have fewer housing starts in 2024 than in the previous year. And housing starts in 2025-2026 will still be lower than they were in 2020-2021. As a result of this, the CMHC has forecasted that demand will push housing prices " beyond previous peak levels. This indicates a lack of short-term affordability improvement.”
Already, Trudeau has overseen a 107% increase in the price of rent while down payments have also doubled. But under this Liberal Government, Canadians shouldn’t expect relief any time soon. In the same report, the CMHC predicted that “rents will rise and vacancy rates will fall,” as more people compete for less housing.
No wonder the CEO of the CMHC told Canadians last year that the Trudeau Government has “no plan” to fix the housing crisis.
The cost of housing will only get worse if the Liberal Government continues to focus on photo-ops instead of construction. This is why Pierre Poilievre introduced his Building Homes, Not Bureaucracy Act, to increase incentives to municipalities that build homes while punishing municipalities that continue to stand in the way of development with NIMBY policies.
Only Common Sense Conservatives will bring the homes that Canadians can actually afford.
