Opinion: Canada’s housing market – built on faulty assumptions – is falling down on affordability

in the business of housing. And as a result, people cannot afford shelter – even though a significant number of housing units in those very same cities remain wholly unoccupied.

One is that housing affordability can be addressed by increasing supply alone. Where city planners once used population growth forecasts to assess the need for new housing supply, assuming that each home would become a place for those people to build a life and contribute to a neighbourhood, new supply is being gobbled up by investors seeking a place to park capital.

But not all interventions are good. In its recent budget, the federal government announced it would assist with down payments for first-time homebuyers – thereby subsidizing an already hot market, and arguably further driving up the cost of housing – which only plays into the commodification problem.

GlobeDebate Ban. Foreign. Ownership.

GlobeDebate Not a word about interest rates or money laundering?

GlobeDebate If someone could let jen_keesmaat know the Average Home Purchased is never made by the Median Family and never has as far back as 1980 that could start a proactive debunking of myths that curtails any fact based resolution to this problem which ONLY 'supply' can resolve.

GlobeDebate Some great points here. It's one thing to say that owning a home is out of reach, but when even rentals are out of reach, what will happen to us?

GlobeDebate WELL I GUESS WHEN OUR GREAT COUNTRY OF COUNTRY HAS BEEN LABELLED A 'WHORE!!' BY 'HUMAN RIGHTS ABUSING!!' COMMUNIST CHINA, 'TOP LAUNDERING MONEY!!' AND 'MOST CORRUPT!!' COUNTRY IN THE WORLD BY USA IT KINDA PUTS BUSINESS OFF GEE THANKS 'CASH FOR ACCESS!! TRUDEAU!

GlobeDebate We need better ideas than using tax dollars to subsidize individuals who wish to live in the most desirable parts of Canada. More investment to bring good jobs to smaller communities.

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Bank of Canada’s Poloz champions tougher mortgage rules, says housing market set to growPoloz says mortgage system could benefit from imaginative approach, such as encouraging more people to take out longer fixed-rate mortgages
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